SECAUCUS, N.J. and BOULDER, Colo., Jan. 25, 2013 /PRNewswire-iReach/ -- Panasonic Eco Solutions North America announces that it has completed a 500 kW solar photovoltaic (PV) power generation installation at the University of Colorado Boulder (CU-Boulder). The system was developed and built by Panasonic with local support from Lighthouse Solar. Financing was provided by a subsidiary of Renewable Social Benefits Fund ("RSBF"), which works with Panasonic to finance distributed generation solar projects in the US and US territories. The new installation will help the university meet its short-term goal of powering the campus with green energy, reducing energy usage and cost, while fulfilling part of its long-term goal for a carbon-neutral campus, outlined in the pledge made by former CU-Boulder Chancellor G.P. "Bud" Peterson to the American College and University President Climate Commitment.
"For more than half a century, CU-Boulder has been a leader in climate and energy research, interdisciplinary environmental studies programs and engaging in sustainability and "green" practices both on campus and in the larger world," said Moe Tabrizi, campus Sustainability Director for CU-Boulder. "This project complements and extends our commitment to leveraging solar power throughout our campus to provide power in a low cost and responsible manner."
The CU-Boulder solar installation is on the university's East Campus, in the heart of the 220-acre CU Research Park, home to the University of Colorado's Laboratory for Atmospheric and Space Physics (LASP), Center for Astrophysics and Space Astronomy (CASA) and the Jennie Smoly Caruthers Biotechnology Building. The 500 kW ground-mounted solar panels will provide clean energy power generation to both research facilities and buildings throughout the Boulder campus.
"The University of Colorado Boulder will benefit from this system solution for years to come in long-term energy cost savings and Panasonic is proud to help the university advance its own forward-thinking environmental and sustainability practices," commented Jamie Evans, Director of Project Finance for Panasonic Eco Solutions North America. "It's a comprehensive solution of this nature that Panasonic, in partnership with Coronal Management, is also bringing not only to the educational sector but to both the municipal and social minded corporate sectors as well."
Jonathan Jaffrey, President of Coronal Management LLC (formed by the principals of Renewable Social Benefits Fund), added, "Working together with Panasonic, we have found a way to combine our financial resources with Panasonic's solar expertise and corporate strength to fund, build and maintain solar PV projects under 20MW across North America."
About the University of Colorado Boulder
As the flagship University of the State of Colorado, CU-Boulder is a dynamic community of scholars and learners situated on one of the most spectacular college campuses in the country. As one of the U.S. public institutions belonging to the prestigious Association of American Universities (AAU), CU-Boulder has a proud tradition of academic excellence, with five Nobel laureates and more than 50 members of prestigious academic academies. Today, with its sights set on becoming the standard for the great comprehensive public research universities of the new century, CU-Boulder strives to serve the people of Colorado and to engage with the world through excellence in teaching, research, creative work, and service. For information visit http://www.colorado.edu/cusustainability.
About Renewable Social Benefit Funds, L3C
Renewable Social Benefit Funds, L3C (RSB Funds), is an alternative energy company focused exclusively on bringing solar power to socially responsible corporations, hospitals, schools, low-income housing projects, water districts, universities, airports, municipalities and other governmental and tax-exempt entities. As a Low-profit, Limited Liability Company (L3C), RSB Funds is able to assist tax exempt entities by freeing up much needed funds from electrical overhead expense to be allocated to core programs. For corporate clients the firm turns Corporate Social Responsibility (CSR) programs from an expense line item to a revenue line items allowing them to have a more significant effect with their programs RSB Funds is a trusted solar partner that provides guidance to our, corporate or tax-exempt partners and investors every step of the way — from the initial decision, to installation and operation, and finally, when appropriate, exit. To learn more about the company, visit http://www.rsbfunds.com/about/
About Panasonic Eco Solutions North America
Panasonic Eco Solutions North America is a division of Panasonic Corporation of North America, the principal North American subsidiary of Panasonic Corporation (NYSE: PC). The company provides a full range of renewable energy and energy efficiency solutions including the planning, implementation, financing, and maintenance to corporate and private sector organizations in both the U.S. and Canada. For enterprise customers, the company develops customized and integrated solutions technology-based solutions. To learn more about the company and its eco solutions, visit www.panasonic.net/eco.
SOURCE Panasonic Corporation of North America