Agnes Scott College
IL-51: Sustainability Projects Fund

As part of the Billion Dollar Green Challenge in 2011, Agnes Scott committed to raising $1M by the end of 2015 to establish the Green Revolving Fund (GRF). The college successfully reached that fundraising goal and became the first college in the nation to create a GRF through 100% donor support. The Agnes Scott GRF is an established pool of financial resources dedicated to funding energy and water efficient projects, decarbonization projects, and renewable energy systems that generate cost savings. The money saved through these projects is recycled back into the fund for future projects, resulting in an efficient and sustainable funding source for climate action. Upon final payback of projected utility savings, the monthly savings are redirected to support the institution’s bottom line.

A GRF is an actionable way one gift can establish a financial tool to reduce energy burden and access to subject matter experts, technical assistance, opportunities to apply and receive rebates, and fiscal confidence to apply for larger federal incentives that lag in reimbursement. Since 2011, the GRF has funded 17 projects, saved the college an estimated $1M in avoided water and energy expenses, and revolved $2.2M in project savings and rebates. Some of these projects include 2 hybrid geothermal systems, both supporting 50,000 square feet of historic renovations, 95% of campus retrofitted with LED lighting, 6 kW research solar array, 80% of campus replaced with low-flow water fixtures, science center retro-commissioning, and dredging the campus retention pond for increased capacity for campus irrigation.

Throughout the entirety of the GRF, projects have been reviewed and approved by the GRF Committee made up of students, faculty, staff and administration representatives. The multi-stakeholder decision-making process used to determine which projects receive funding includes the following steps. First, the GRF Project Manager reviews and compiles the list of energy and water efficiency and renewable energy system projects. They then assign a weighted score based on calculations that include simple payback period, annual carbon reduction, and operational urgency, which sorts projects based on highest weighted score. The top projects are shared with the GRF Committee in a formal meeting to review, complete a project rubric, and discuss.

Upon agreement of the GRF Committee, projects are approved and the project management and implementation process begins. At project completion, the GRF Project Manager and Accounting staff complete a Project Completion Form and use that information to start tracking the project in the college’s internal accounting system until the project savings have been repaid. The project is then closed-out. This is an annual process.