Virginia Tech University: Global Warming
Virginia Tech launches Energy Efficiency Partnership with Hannon Armstrong and Pepco Energy Services aimed at greening greater Washington D.C. - 10/16/07
Virginia Tech announced Monday the "Energy Efficiency Partnership of Greater Washington," a landmark initiative to tackle the problem of global warming by retrofitting existing buildings with energy efficiency products designed to decrease energy use and significantly cut carbon emissions.
In addition, retrofitting provides tenants and building owners with improved energy infrastructure and, in most cases, increased tenant comfort.
The university's core partners are energy efficiency financier, Hannon Armstrong, which has already committed $500 million to the initiative during the first five years, and Pepco Energy Services. A growing number of associate partners, including urban developers, local councils, and architects are also committing to the initiative.
As an unbiased facilitator, Virginia Tech will work to develop program momentum and governance, as well as taking on the task of documenting a partnership blueprint for future replication. This would include moving forward with sustainability projects on the university's campus in Blacksburg.
According to Virginia Tech President Charles Steger, the university has built this partnership as a platform to create hands-on learning tools for students, civic groups, and industry practitioners, as well as a way of identifying long-term cross-disciplinary research opportunities around the urgent theme of energy efficiency.
Hannon Armstrong, will finance the retrofitting at no capital cost to building owners and county governments. The company will see a return on its investment over a long-term period via the accrued electricity savings.
"As a land grant university, Virginia Tech has a history of civic engagement on technology issues. As energy-saving issues move urgently to the forefront, we view this partnership as a natural and relevant step in fostering our missions of outreach, research and education," said Steger.
