YMCA Teams with Balanced Rock Energy on Breakthrough Solar Credit Agreement

YMCA - Event - Solar Credit Agreement

YMCA Teams with Balanced Rock Energy on Breakthrough Solar Credit Agreement

Healthy Living Leader Nets Over $3 Million in Electricity Savings through Virtual Net Metering
YMCA Teams with Balanced Rock Energy on Breakthrough Solar Credit Agreement

PROVIDENCE, RI and SPRINGFIELD, MA – December 17, 2019 – Balanced Rock Energy, a leader in energy procurement strategy and execution, today announced it has helped YMCA of Greater Providence secure a long-term reduction in electricity costs across its network of gyms, camps, and administrative buildings through National Grid’s Virtual Net Metering program.

The 25-year agreement, signed with Green Development, a Rhode Island solar and wind project developer, enables the YMCA to purchase renewable energy credits from local offsite solar projects and apply those credits to the YMCA’s monthly electric bills, a move projected to save it more than $3 million over the term.

“As a mission-driven non-profit, we are always looking for ways to promote the health of our members, the local community, and our environment, while also keeping a close eye on our costs,” said Steven G. O’Donnell, CEO, YMCA of Greater Providence. “Balanced Rock Energy showed how we could advance our mission by supporting clean power generation and leverage our status as a non-profit to reduce our overall energy expenditures. The virtual net metering agreement we have entered into is a big win for us and the Greater Providence community.”

With the agreement driving annual savings in excess of $130,000, the YMCA of Greater Providence will continue to invest in energy efficiency measures to further reduce its carbon footprint and energy costs, as well as in new programs for its members.

“As one of Rhode Island’s largest renewable energy developers, we are very pleased to provide the YMCA with a solution to reduce their utility costs,” said Mark DePasquale, Chairman, and Founder, Green Development LLC. “It is critical that Rhode Island continues to encourage the development of renewable energy projects to lessen our reliance on fossil fuels and out-of-state energy generation.”

Added Dan Joyce, President, Balanced Rock Energy: “Steve is a visionary leader and change agent who understands that energy can be more than a line-item expense – making the right energy choices can benefit the community, the environment, and the bottom line. It is a pleasure working with him and the entire team at the YMCA of Greater Providence to help advance their community-focused mission.”

About the YMCA of Greater Providence

The Y is one of the nation’s leading nonprofits strengthening communities through youth development, healthy living and social responsibility with a mission of nurturing the potential of children and families, improving the nation’s health and well-being, and providing opportunities to give back and support neighbors. The Y has the long-standing relationships and physical presence not just to promise, but also deliver, lasting personal and social change. Learn more at https://ymcagreaterprovidence.org.

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Category: News