Atlantic Cape Community College PV

Power agreement entered

Atlantic Cape Community College will enter into a Power Purchase Agreement with Pepco Energy Services, Inc., for a solar photovoltaic power project at the college's Mays Landing and Cape May County campuses, following action by the college's Board of Trustees Tuesday. Pepco Energy will design, own and operate one of the largest land-based solar systems in New Jersey. If completed today, the installation would rank as the largest single community college solar installation in the nation. Atlantic Cape chose Pepco Energy to develop a 2.3 megawatt solar electric generating system for its campuses. The solar photovoltaic system will generate up to 48 percent of Atlantic Cape's total annual electric consumption, at a set rate, independent of market rates. By entering into the agreement, Atlantic Cape will realize savings of $220,000 the first year, and up to $6.8 million over the 20-year life of the contract. The electricity generated per year will be equivalent to the amount needed to power approximately 220 homes. "The solar energy initiative at Atlantic Cape Community College is an excellent example of using innovative strategies to promote energy sustainability as a key step in fulfilling our institutional commitment to environmental stewardship in two counties," said Dr. Peter L. Mora, Atlantic Cape president. "The project will also allow the college to model best practices in institutional leadership and management in the area of renewable energy. Finally, a portion of the savings realized from this project will serve to fund other institutional strategies that will promote effective and efficient environmental practices at the college far into the future. The solar project will truly establish a green legacy for Atlantic Cape." As a result of tax benefits and future revenue resulting from the sale of Solar Renewable Energy Certificates, the solar project will provide electricity to Atlantic Cape at a rate substantially lower as compared with the current rate paid to Atlantic City Electric. In addition, Atlantic Cape was awarded a $245,000 solar rebate from New Jersey Board of Public Utilities under the CORE Rebate Program in 2007, which will cover the consulting costs and other fees Atlantic Cape incurred in planning the project.