|Submission Date||Feb. 28, 2019|
State University of New York College of Environmental Science and Forestry
IN-26: Innovation C
|1.00 / 1.00||
Name or title of the innovative policy, practice, program, or outcome:
A brief description of the innovative policy, practice, program, or outcome that outlines how credit criteria are met and any positive measurable outcomes associated with the innovation:
To catalyze investments in energy and sustainability projects that advance ESF’s commitment to sustainability, ESF created a green revolving fund (GRF) in August 2016. A GRF is an internal revolving loan fund used to finance energy and sustainability initiatives that generate cost savings or revenues. Verified savings/revenues generated from GRF projects are used to pay back the initial project costs and replenish the fund, and additional savings/revenues generated after initial payback are also returned to the fund for a period of time, creating a sustainable funding mechanism for additional projects and continuous improvement. In addition to reinvestment of savings and revenues from energy and sustainability projects, the fund also serves as a “green bank” in which to deposit energy rebates, grants, and additional funds from donors and other sources.
By identifying, tracking and publicizing projects, the GRF will provide an internal feedback mechanism that incentivizes innovation and project development. The GRF was spearheaded by students participating in the spring 2016 NYSERDA REV Campus Challenge “Energy to Lead Competition” and the student-led Sustainable Energy Club, with support from the College’s Energy Manager and Sustainability Office, in collaboration with its Business Office, Physical Plant and Facilities, and VP for Administration.
ESF's Executive Cabinet approved the GRF charter and pledged $130,000 in seed funding to the account. As of January 2019, four GRF projects have been implemented (Vend misers, steam traps, retrofits to commission a rooftop solar thermal system, and LED lighting) resulting in a $38,330 of verified energy savings accruing back to the fund thus far. The fund has also recouped $32,524 in rebates for energy projects, further strengthening the fund, with more projects and rebates planned in the near future.
Which of the following impact areas does the innovation most closely relate to? (select up to three):
Investment & Finance
A letter of affirmation from an individual with relevant expertise or a press release or publication featuring the innovation :
The website URL where information about the programs or initiatives is available:
Additional documentation to support the submission:
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