Ameresco, Rhode Island College Partner on Solar Renewable Energy Project

Rooftop solar PV system to be installed at the Donovan Dining Center and Student Center

FRAMINGHAM, Mass. & PROVIDENCE, R.I.--(BUSINESS WIRE)-- Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and renewable energy company, today announced the completion of its latest collaboration with Rhode Island College to install a solar photovoltaic (PV) system on the rooftop of Donovan Dining Center. The $300,000 project is expected to save the college more than $231,000 in energy costs over the next 15 years. Ameresco previously partnered with RIC to provide cost savings through energy efficiency and infrastructure upgrades to 33 buildings.

“Generating clean, renewable energy on campus is a priority for Rhode Island College and Ameresco is a valuable partner in achieving that goal,” said Rhode Island College President Frank D. Sánchez. “We are committed to creating a greener, more sustainable campus, as evidenced by our 2017 recognition as a Green Ribbon School by the U.S. Department of Education. This project is an important step forward in that work.”

Ameresco installed a solar PV system on the rooftops of the Donovan Dining Center and the Student Union, utilizing funding from the Rhode Island Office of Energy Resources and Rhode Island Commerce Corporation. The 110.9 kW system will be tied into the college’s electric service and is expected to generate 132,502 kWh in the first operating year. Savings will be in the form of direct reduction of kWh usage.

“Ameresco is once again honored to be working with Rhode Island College, this time to deliver renewable solar power, an environmental and economic win for the college,” said, Executive Vice President of Ameresco David J. Anderson. “This project further demonstrates to students, faculty, staff, and the community that Rhode Island College is committed to clean, renewable energy.”

The solar facility is expected to reduce carbon emissions by 1,358 metric tons of CO₂ annually. That would be equivalent to the CO₂ emissions from 163 homes’ energy use for one year or greenhouse gas emissions from 288 passenger cars. Emission reductions were estimated using the U.S. Environmental Protection Agency Greenhouse Gas Equivalencies Calculator.

About Rhode Island College
Established in 1854, Rhode Island College serves approximately 8,500 undergraduate and graduate students through its five schools: the Faculty of Arts and Sciences, the Feinstein School of Education and Human Development, the School of Business, the School of Nursing and the School of Social Work. For more information, visit www.ric.edu.

About Ameresco
Founded in 2000, Ameresco, Inc. (NYSE: AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.

The announcement of a customer’s entry into a project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total construction backlog. This project was reported in our contracted backlog as of September 30, 2018.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190207005130/en/

Ameresco: Rhea Hickok, 502-420-1971, news@ameresco.com
Rhode Island College: John Taraborelli, 401-456-8977, jtaraborelli@ric.edu

Source: Ameresco, Inc.

Released February 7, 2019