E02 - Renewable Energy: Innovation Through Collaboration

Thursday, November 9 from 3:00 PM to 4:00 PM | 210B

Abstract Text:

The Massachusetts Institute of Technology (MIT), Boston Medical Center (BMC), and Friends of Post Office Square formed an alliance to buy electricity from a large new solar power installation, adding carbon-free energy to the grid and demonstrating a partnership model for other organizations in climate-change mitigation efforts.  The agreement enabled the construction of a roughly 650-acre, 60-megawatt solar farm on farmland in North Carolina called Summit Farms Solar. This facility, the largest renewable-energy project ever built in the U.S. through an alliance of diverse buyers, was completed and began delivering power to the grid at the end of 2016.  The project is expected to deliver 146 gigawatts of emissions-free power to the grid each year.

The three organizations were united by both their long-term commitment to supporting renewable energy and greenhouse gas emission reductions, as well as a desire to minimize their financial risk to fluctuating energy prices over the next 25 years.

MIT, BMC and the Friends of PO Square hope that the lessons learned from this Joint Power Purchase Agreement model will be a replicable opportunity for other organizations looking to make a significant contribution toward global climate change mitigation efforts.

Learning Objectives:

Understand considerations when forming partnerships and evaluating potential large-scale renewable energy projects.

Explain the fundamentals of a Joint Power Purchase Agreement.

Learn from one year of performance data from the existing Summit Farms site.

Tell the story of the challenges and opportunities for an Aggregated Power Purchase Agreement in order to promote this replicable model among more organizations.

Learning Level:

Level 300 – Application/Implementation


Credits:

GBCI Credit Hours:
1
AIA Credit Hours:
1 LU|HSW


Education Tracks: Collaborate (Special Set: Commons)

Event Type: Education Sessions > Session


 
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