Solar Panel Field at CNRV Generates Energy and Revenue
CNRV has reduced its carbon footprint by 5,500 metric tons since our five-acre solar field was installed in 2018. The panels have reduced our energy costs and also generated $113,633 for the sale of Solar Renewable Energy Credits (SRECs)!
SRECs are certificates that represent all of the positive impacts of generating clean solar energy; one SREC is generated for every megawatt-hour (MWh) or 1,000 kilowatt-hours (kWh) of solar electricity that a solar panel system produces. On Wednesday, March 2, Sara Wohlford, Efficiency and Sustainability director, and Scott Blankenship, CNRV facilities director, were presented with a check for the sale of SRECs from Secure Futures LLC, the Staunton-based owners and operators of the 4,000 panels on our property.
“We’re happy to have worked with Carilion Clinic to build and operate the CNRV solar array,” said Anthony Smith, president of Secure Futures. “Using more energy-efficient methods of generating power for the hospital is proof of Carilion’s commitment to serve its communities.”
In 2021 alone, our solar panel system produced 1,896,279 kWh of electricity. This translates to the equivalent of:
- 1,344 metric tons of carbon dioxide emissions avoided
- 244 homes’ electricity use for one year
- Carbon sequestered by 1,646 acres of U.S. forests in one year
The demand and rates for SRECs have increased since the Virginia Clean Economy Act was passed in 2020. The legislation requires utility companies like Appalachian Power to generate a portion of their electricity from a renewable energy resource, which they can do by purchasing SRECs.
"The solar array at CNRV continues to produce energy above projected capacity,” said Scott. “In addition to reducing our carbon footprint and lowering the hospital’s energy bills, we will use the funds generated from the sale of the SRECs to reinvest in Sustainability projects such as LED lighting upgrades.”
For more information, contact Scott Blankenship, Facility Services, at bsblankenship@carilionclinic.org or 540-731-2492 (32492).
In total, our solar panel system has produced 7,574,917 kWh of electricity, which is equivalent to:
- 5,368 metric tons of carbon dioxide emissions avoided
- 975 homes' electricity use for one year
- Carbon sequestered by 6,577 acres of U.S. forests in one year
Our five-acre solar field was installed at CNRV in 2018.
For every megawatt-hour of energy that the solar panels produce, one Solar Renewable Energy Credit (SREC) is generated, then sold to utility companies.
Last week, we received a check for the sale of SRECs, which will be reinvested in other projects to reduce energy.
