Sisters of the Precious Blood – Turning Solar Into a Long-Term Revenue Stream
Client Background
The Sisters of the Precious Blood are a Catholic organization committed to environmental stewardship. In alignment with their values, they made the decision to install four solar energy systems at their buildings in Dayton, Ohio.
Solar Array Details
Dayton, Ohio
Fixed Tilt Ground Mount and Roof Mounts
718kW DC
Completed 2020
Challenge
While these systems were producing approximately 844,700 kWh and saving them $66,800 each year—the Sisters sought additional ways to accelerate their return on investment.
Because the Sisters didn’t need to retain the environmental attributes of their solar production for sustainability reporting or carbon reduction claims, they were eligible to sell them as Renewable Energy Certificates (RECs). RECs represent the environmental benefits of renewable electricity generation and can be sold to other entities seeking to meet clean energy goals. Click here to learn more about RECs.
Solution
This presented an opportunity to turn their unused environmental attributes into a new revenue stream. Melink, the design-build firm behind the solar project, introduced the Sisters to Viridi, a trusted energy advisor, to explore options for increasing the financial value of their system. Viridi recommended registering and selling the RECs generated by two of their solar arrays.
Selling Their RECs: Viridi handled the entire registration and sales process, allowing the Sisters to earn an estimated $16,400* in additional revenue annually through REC transactions. (*based on current market rates)
This turnkey solution provides the Sisters with over 25 years of reoccurring income—significantly improving the overall financial performance of their solar investment.
Result: $83,200 Reduction in Annual Costs
By installing solar and selling their RECs. the Sisters of the Precious Blood now see:
$66,800 in annual energy savings from their solar power generated
$16,400 in estimated annual revenue from their REC sales*
