| Challenge |
- Deploy a solar energy array to supply half of the school’s electrical needs without a sizeable upfront capital outlay
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| Solution |
- SurePath™ Solar Power Purchase Agreement with Tioga Energy
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| Benefits |
- No upfront investment: cash reserved for other priorities
- Low-cost, fixed priced energy: acts as hedge against rising utility costs and provides for better cash flow management
- No ownership or maintenance responsibilities: eliminates operation headaches
- Meets school’s environmental stewardship goal: aids in recruiting prospective faculty and students
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| Highlights |
- Tioga employed an innovative REC trading strategy that allowed the school to qualify as an EPA Green Power Partner while maintaining the economic benefits associated with the sale of solar RECs
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PROJECT SUMMARY
The Athenian School, a 450-student college preparatory institution, selected Tioga Energy and their EPC partner REC Solar to engineer, install, finance, own and operate a photovoltaic system to supply half the school’s electrical needs. Environmental stewardship is one of the founding pillars of The Athenian School, and this green effort would send a positive message to the entire Athenian School community as well as prospective students and their families.
One of the largest photovoltaic systems at a private school in California, the hillside system array covers 30,000 square feet and comprises 1,300 solar panels arranged in the shape of the letter “A” for Athenian. Over 100 reinforced piers were specially designed and installed to meet unique soil conditions identified in the geotechnical survey. Over the next 20 years, the Athenian system is expected to produce 7.5 million kilowatt hours of clear, renewable electricity — preventing the release of over 4 million pounds of carbon dioxide.
Tioga’s SurePath™ Solar Power Purchase Agreement (PPA) allowed the school to deploy the large system without a sizable up-front capital outlay and without the ongoing cost and responsibility of maintenance — important considerations for the non-profit organization. Under the Power Purchase Agreement, Tioga Energy owns, operates and maintains the system. Tioga sells the solar electricity generated to the school at fixed rates over a 20-year period, providing a significant hedge against rising electricity rates and allowing for improved cash flow management. In the first year of operation, the solar facility provided more than 50% of the school’s electricity at a rate below that of the utility.
