Pivot Energy and the University of Colorado Boulder (CU Boulder) have reached a capacity of 5 MWDC virtual net metering agreement. Under the 20-year subscription agreement, Pivot will develop, which it will own and operate, an off-site net metering solar project in Weld County.
CU Boulder is utilizing virtual net metering, an innovative new program made possible by Colorado Senate Bill 21-26 in 2021, which allows organizations to take advantage of the energy produced by off-site solar installations. The university will use solar energy generated by the off-site net metering solar project, without the need to install on-site solar. The off-site solar project provides direct input to the electric grid, with CU Boulder receiving credits for the renewable energy produced on its electric bill.
Additionally, 100% of the offsite solar project’s Renewable Energy Credits (RECs) will be transferred to CU Boulder, allowing the university to achieve its goals of reducing its Scope 2 greenhouse gas (GHG) emissions by 50% by 2030 and achieving carbon neutrality reaches. by 2050.
“Pivot Energy is excited to partner with a renowned university like CU Boulder on this impactful clean energy project that brings more solar energy to Colorado,” said Mat Elmore, SVP of strategic accounts at Pivot Energy. “CU Boulder illustrates how colleges and universities can be leaders in helping advance the clean energy transition.”
This is Pivot Energy’s first solar project and its partnership with CU Boulder.
“The Pivot Energy Agreement is an important step for CU Boulder in sustainability,” said Justin Schwartz, chancellor of the University of Colorado. “We are excited to be an early subscriber to the innovative policies signed into law in Colorado to expand Colorado’s solar energy resources and demonstrate continued leadership in the energy transition. Sustainability – in our research, education and operations – is one of my top priorities as chancellor, and I am thrilled that this agreement is one of the first major projects I have the opportunity to share with our campus community and fellow Coloradans.
The project is expected to be completed in early 2026.
News item from Pivot Energy
