In the Wall Street Journal’s article, Why It’s Mainly Giant Companies That Buy Green Power, reporter Brian Baskin, covers the opportunities and challenges for companies looking to invest in large-scale renewable energy. In the article he references the innovative model that institutions, MIT, Boston Medical Center, and the Friends of Post Office Square have undertaken as a joint power purchase agreement.
This unique partnership is a result of the GRC’s Renewable Energy Leadership Prize, a competitive procurement process launched last year.
The objective of the prize was to spur local leaders who were contemplating large-scale renewable energy procurement strategies to move ahead with specific projects – stimulating the purchase of significant new renewable energy and demonstrating the feasibility, economic attractiveness, and replicability of clean energy strategies.
Taking all applicants’ projects into account, the Renewable Energy Leadership Prize is estimated to result in a total of 44 to 63 MW of additional wind and/or solar generation capacity.
For more about the Renewable Energy Leadership Prize, read Solving the Puzzle: A Case Study of the Renewable Energy Leadership Prize.
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