Nationwide Energy Partners (NEP), the provider of privatized electric and water solutions to the multifamily market, announced this Wednesday it will go 100% carbon-free energy; it will convert all of its electricity supply in communities with clean energy, starting in May, 1, 2021.
Firstly, NEP will provide residents, owners, and operators of the communities in which it operates with nearly 250 million kilowatt hours annually of clean energy; NEP will offtake this energy from facilities that do not generate greenhouse gas emissions.
Secondly, according to the company’s statement, NEP will remove 230 million metric tons of carbon dioxide each year. This would be the equivalent of 195 million pounds of coal burned or nearly 40,000 automobiles driven for a full year.
Thirdly, NEP will absorb the costs associated with this move, and it won’t pass any costs to its customers.
Moreover, the carbon free energy will be verified via emission-free energy certificates; which will be managed by the third-party PJM Environmental Information Services (PJM EIS) and also through PJM’s Generation Attribute Tracking System (GATS).
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In addition, PJM EIS will ensure the veracity of the energy; by creating standards which verify no double selling of the same certificate. According to the statement, NEP has also purchased certificates to cover the combined load of its customers and their residents;
Consequently, it has ensured that all properties where Nationwide Energy Partners assists with electric supply will receive 100% carbon-free generated electricity.
On the other hand, Nationwide energy Partners’ president, Timothy J. (T.J.) Harper, said. “It’s a big commitment financially, operationally, and also environmentally that we are excited to make. We are proud to enable the largest supply of carbon-free energy to the multifamily markets in the areas we serve.”
Finally, he also added. “ESG goals are becoming standard fare for investment-grade real estate. In conclusion, we also know our carbon-free solution is valued by our clients; their investors, and also their residents. For Nationwide Energy Partners this is just a step along the way to our commitment to a 100% renewable energy portfolio by 2025.”