For years, Appalachian State University has helped lead the way in regional efforts to produce clean energy. That continued last week when trustees approved a deal that will give the school millions of dollars for equipment to reduce energy costs -- at no cost to the school.
It's the school's latest innovative move toward a cleaner environment. In 2004, ASU students voted to pay $10 more in annual fees to finance a plan to fit new and existing buildings with alternative-fuel technologies such as solar-electric and water-heating panels and a wind turbine. In 2007, technology faculty members received grants totaling more than $284,000 to encourage energy-saving measures in residential construction off-campus.
With the deal approved last week, the school should further reduce its own energy consumption, part of ASU's continuing effort to teach students about clean energy.
Students can also learn about driving a hard bargain.
Trustees approved the deal's concept this past summer. The school hammered out an agreement with Pepco Energy Services by which it will pay its debt service on the equipment through energy savings, the Journal's Monte Mitchell reported. Pepco will pay the difference if savings don't generate enough money to repay the principal and interest payments.
"When we first started looking into it, we thought it was too good to be true," said Greg Lovins, the school's interim vice chancellor for business affairs. "Pepco guarantees the savings."
Through its 12-year agreement with Pepco, the school will spend about $5.3 million on improvements such as energy-saving lighting fixtures and heating and cooling controls. ASU is expected to save about $600,000 annually in energy costs, and about $7.2 million over the life of the agreement.
Even though it's crucial for the environment and usually saves money in the long run, the start-up costs of clean energy are often significant. ASU found a way to beat those costs. The school continues to lead the way in practical efforts to produce clean energy and reduce pollution.
Email
Facebook
Google
Twitter
Favorites
More
Advertisement