Earlier this yr, the Local weather Entry Fund, Photo voltaic Stewards, CohnReznick and extra companions flipped the swap to activate Solar4Us @ Henderson-Hopkins, a $3.8 million, 808-kW rooftop group photo voltaic challenge.
The challenge, owned and developed by the Local weather Entry Fund, is positioned at Elmer A. Henderson: A Johns Hopkins Partnership College, a Baltimore Metropolis Public Okay-8 College. Along with saving roughly 150 low- to moderate-income households almost $1 million in vitality prices over 35 years and offering job coaching alternatives, Solar4Us @ Henderson-Hopkins amplifies sensible methods firms can take part within the vitality transition via Social RECs.
Via a novel association established by Atlanta-based social enterprise Photo voltaic Stewards, job coaching and coursework on the college might be funded via skilled providers agency CohnReznick’s buy of the Solar4Us @ Henderson-Hopkins’ Renewable Vitality Credit (RECs), producing over 1 / 4 of one million {dollars} in ongoing income for the Solar4Us @ Henderson-Hopkins challenge, the Local weather Entry Fund, and the group’s future group photo voltaic targets.
“We acknowledge that firms have an necessary function to play pretty much as good stewards and good neighbors in native economies,” mentioned Anton Cohen, associate and renewable vitality observe chief at CohnReznick. “Partnering with Photo voltaic Stewards clarified the renewable vitality credit score area and offered financial justification for CohnReznick to pay a premium for the Social RECs. Our partnership permits tons of of households to have entry and lower your expenses on their electrical energy payments with clear, reasonably priced energy at an inexpensive value and reduces our firm’s carbon footprint.”
Via the Photo voltaic Stewards Market, 100% of the income from RECs is used to fund group tasks with social and financial advantages for traditionally excluded communities, making a Social REC.
Annual membership within the Photo voltaic Stewards Market permits firms to pick out there group alternatives and choose tasks that meet their missions and targets. The crew at Photo voltaic Stewards vets every challenge. It supplies a excessive degree of rigor and oversight so collaborating communities may be verified and companies can scale back their threat and make sure the validity of social affect claims.
Within the long-term, communities and companies profit as a result of these tasks facilitate extra funding and consequently entice and construct extra expertise within the space.
“Solar4Us @ Henderson-Hopkins is considered one of three Social REC partnerships to return on-line previously 18 months,” mentioned Dana Redden, founder and CEO of Photo voltaic Stewards. “Our patented Photo voltaic Stewards Market ensures financial inclusion and accountability with social affect claims.”
Information merchandise from the Local weather Entry Fund
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