Power Reduction Agreements: A Greener, Cheaper, Faster Way to Meet Sustainability Goals
When meeting green energy goals, a combination of energy upgrades at the entity’s own facilities is usually coupled with power purchase agreements (PPAs) with renewable power installations. While widely used and generally successful tools, PPAs often involve a long lead time and the potential for negative publicity if there are siting controversies. PRAs solve those challenges by offering the ability to fund energy efficiency projects in the same way renewable installations are funded. This can offer a less expensive option that deploys more quickly. It also gives new opportunities to target the location or type of project to further enhance the entity’s core mission. This session will explain how PRAs work and representatives from both the public and private sectors will discuss how they think about this tool and how it can relate to their goals.