Stevens set to expand solar panel system
PPA deal set up with enXco for solar power
Matt Neuteboom
Issue date: 9/12/08 Section: Campus News
This summer, soaring gas and energy prices sent the economy spiraling into a crisis. In order to combat this problem, Stevens Institute of Technology has enacted a project to expand the current solar panel system on top of the library and Schaefer center. By doing this, Stevens will be well on its way to replacing Stevens energy costs with clean, renewable sources of energy.
Stevens has agreed to a solar panel deal with 3rd Rock Technologies to expand the solar panel system on the roof of the library and Schaefer center. The project will expand upon the 130kW system already built there two years ago by SunEdison. enXco, 3rd Rock Technologies' financial arm, has agreed to install roof and ground-based solar panels on Stevens' campus. Mark Byrd, the head of the project, is hoping that the school will increase the power output by 200kW for a total of 330kW by December 31st, 2008, and have even more completed in 2009.
Stevens has agreed to a power purchase agreement, or "PPA agreement," with 3rd Rock Technologies, who will own the solar panels and sell the power generated by them back to the school. The power will cost Stevens about 10.2 cents per kW/h, an increase from the nine cent agreement two years ago. However, 3rd Rock Technologies will cover all of the costs of the panels, including installation and maintenance.
The solar panels are one of many major steps Stevens is taking to lower energy costs for the school. With the Stevens campus consuming approximately 2800kW of energy, the solar energy should cover about 11% of Stevens's energy by the beginning of 2009. Byrd's goal is to hopefully have 45% of Stevens' energy consumption covered by alternate energy sources by 2010. Byrd's plan will put Stevens far ahead of New Jersey's goal of 20% clean energy sources by 2020.
enXco, the company providing financial support for the project, is a French based company that deals mostly with wind turbine energy. enXco was interested in Stevens as a pilot project to gauge the costs of solar panels in an urban environment. After SunEdison declined a second solar-panel deal with the school, Stevens struck up the current deal with enXco and 3rd Rock Technologies.
With costs of energy rising, it's clear that Stevens has made the right choice in investing in alternate fuel sources. With new clean energy projects on the horizon, Stevens will continue to be on the forefront of emerging clean energy trend.
Stevens has agreed to a solar panel deal with 3rd Rock Technologies to expand the solar panel system on the roof of the library and Schaefer center. The project will expand upon the 130kW system already built there two years ago by SunEdison. enXco, 3rd Rock Technologies' financial arm, has agreed to install roof and ground-based solar panels on Stevens' campus. Mark Byrd, the head of the project, is hoping that the school will increase the power output by 200kW for a total of 330kW by December 31st, 2008, and have even more completed in 2009.
Stevens has agreed to a power purchase agreement, or "PPA agreement," with 3rd Rock Technologies, who will own the solar panels and sell the power generated by them back to the school. The power will cost Stevens about 10.2 cents per kW/h, an increase from the nine cent agreement two years ago. However, 3rd Rock Technologies will cover all of the costs of the panels, including installation and maintenance.
The solar panels are one of many major steps Stevens is taking to lower energy costs for the school. With the Stevens campus consuming approximately 2800kW of energy, the solar energy should cover about 11% of Stevens's energy by the beginning of 2009. Byrd's goal is to hopefully have 45% of Stevens' energy consumption covered by alternate energy sources by 2010. Byrd's plan will put Stevens far ahead of New Jersey's goal of 20% clean energy sources by 2020.
enXco, the company providing financial support for the project, is a French based company that deals mostly with wind turbine energy. enXco was interested in Stevens as a pilot project to gauge the costs of solar panels in an urban environment. After SunEdison declined a second solar-panel deal with the school, Stevens struck up the current deal with enXco and 3rd Rock Technologies.
With costs of energy rising, it's clear that Stevens has made the right choice in investing in alternate fuel sources. With new clean energy projects on the horizon, Stevens will continue to be on the forefront of emerging clean energy trend.