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Final Up to date on: twenty second Might 2025, 02:35 am
Baltimore, MD — Earlier this yr, the Local weather Entry Fund, Photo voltaic Stewards, CohnReznick, and extra companions “flipped the switch” to activate Solar4Us @ Henderson-Hopkins, a $3.8 million, 808 kW rooftop neighborhood photo voltaic venture. The venture, owned and developed by the Local weather Entry Fund, is positioned at Elmer A. Henderson: A Johns Hopkins Partnership College, a Baltimore Metropolis Public Okay-8 College. Along with saving roughly 150 low- to moderate-income households practically $1 million in power prices over 35 years and offering job coaching alternatives, Solar4Us @ Henderson-Hopkins amplifies sensible methods firms can take part within the power transition by means of Social RECs®.
Via a singular association established by Atlanta-based social enterprise Photo voltaic Stewards, job coaching and coursework on the college might be funded by means of skilled companies agency CohnReznick’s buy of the Solar4Us @ Henderson-Hopkins’ Renewable Vitality Credit (RECs), producing over 1 / 4 of 1,000,000 {dollars} in ongoing income for the Solar4Us @ Henderson-Hopkins venture, the Local weather Entry Fund, and the group’s future neighborhood photo voltaic targets.
“We recognize that companies have an important role to play as good stewards and good neighbors in local economies,” stated Anton Cohen, companion and renewable power follow chief at CohnReznick. “Partnering with Solar Stewards clarified the renewable energy credit space and provided economic justification for CohnReznick to pay a premium for the Social RECs®. Our partnership enables hundreds of families to have access and save money on their electricity bills with clean, affordable power at a
reasonable price and reduces our company’s carbon footprint.”
CohnReznick was one of many first nationwide skilled companies companies to determine a devoted clear power follow and has labored on a number of the largest federal decarbonization efforts in current American historical past, from the $26 billion RECOVERY Act power applications right down to the newer Inflation Discount Act. As a part of CohnReznick’s Sustainability technique, it’s dedicated to buying renewable power certificates from initiatives that straight profit traditionally excluded communities.
For the reason that late Nineties, RECs have remodeled markets for renewable power by permitting renewable power mills to attach with clear power patrons, no matter the place the power is generated or used. Via the Photo voltaic Stewards Market, 100% of the income from RECs is used to fund neighborhood initiatives with social and financial advantages for traditionally excluded communities, making a Social REC®. Annual membership within the Photo voltaic Stewards Market permits firms to pick out there neighborhood alternatives and choose initiatives that meet their missions and targets.
The workforce at Photo voltaic Stewards vets every venture. It gives a excessive stage of rigor and oversight so taking part communities could be verified and companies can scale back their danger and make sure the validity of social affect claims. In the long run, communities and companies profit as a result of these initiatives facilitate further funding and consequently appeal to and construct further expertise within the space.
“Solar4Us @ Henderson-Hopkins is one of three Social REC® partnerships to come online in the past 18 months,” stated Dana Redden, founder and CEO of Photo voltaic Stewards. “Our patented Solar Stewards Marketplace ensures economic- inclusion and accountability with social impact claims. There is so much value in authentic local partnerships!”
“Our involvement in Solar4Us @ Henderson-Hopkins was especially meaningful because it is such an impactful project,” stated Joel Cohn, companion at CohnReznick. “Seeing the system going live was a powerful reminder that businesses like ours are essential in creating a better, brighter future for our communities and our country.”
About Photo voltaic Stewards
Photo voltaic Stewards creates real-world alternatives for a extra inclusive clear power economic system. Our patented Photo voltaic Stewards Market gives priceless instruments for collaboration, fairness, and affect in renewable power improvement for organizations that serve the neighborhood, comparable to reasonably priced housing, universities and colleges, non-profits, and municipalities. Via our distinctive mannequin, we mix environmental and social attributes to assist dedicated private-sector leaders make strategic clear power commitments that straight profit historically traditionally excluded communities. Extra data on the Photo voltaic Stewards Market is offered at https://solarstewards.net.
About CohnReznick
CohnReznick is firmly rooted in our function: creating alternatives for our folks, making a distinction for our purchasers, and strengthening our communities. Regardless of speedy progress, we retain an entrepreneurial spirit and tradition pushed by a dedication to superior consumer service and giving again. Extra data is offered at https://www.cohnreznick.com.
Concerning the Local weather Entry Fund
The Local weather Entry Fund (CAF) is a Maryland-based nonprofit Inexperienced Financial institution that developed, constructed, and owns the Solar4Us @ Henderson-Hopkins venture. CAF’s mission is to cut back the power burden of low-income households by rising entry to discounted clear power by means of progressive clear power improvement and finance. Since 2018, CAF has targeted its efforts on the enlargement of neighborhood photo voltaic in Maryland’s traditionally disinvested communities to make sure that low-income households can expertise the social, financial, and environmental advantages solar energy has to supply. For extra details about CAF and its work in local weather justice, please go to www.climateaccessfund.org.
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