First Green Revolving Fund Project Underway
Monday, April 15, 2013
Agnes Scott College’s first Green Revolving Fund project is now underway.
The college’s fluorescent lamps across campus have been replaced with new, more efficient and brighter lamps. The switch will save the college about $11,000 per year in electricity bills. In addition, the upfront cost of the project was decreased by about $7,000 with the incentive of a rebate from Georgia Power.
The project is the first of many planned campus projects that will be funded through Agnes Scott’s Green Revolving Fund (GRF), one of the first of its kind at a U.S. college. The GRF was established in 2012 with the help of donations to help the college undertake energy efficiency projects by revolving the cost savings from each retrofit project back to the fund in order to support future efficiency projects.
So an initial investment continues to fund sustainability projects for years to come as the cost savings of each project “revolve” back into the fund.
Students, faculty and staff are involved in the decision-making and students are encouraged to do research on possible projects, including assistance with analyzing the costs and benefits. So in addition to saving energy and money, the fund also serves as a learning tool for students.
Agnes Scott joined 32 other leading institutions in 2011 to launch the Billion Dollar Green Challenge. The national goal is to invest a cumulative total of $1 billion in self-managed green revolving funds that finance energy efficiency upgrades on campus.
Agnes Scott College was the first women's college in the country to commit to the challenge and, along with Georgia Institute of Technology, was one of two founding institutions in Georgia.
Agnes Scott College educates women to think deeply, live honorably and engage the intellectual and social challenges of their times. Students are drawn to Agnes Scott by its excellent academic reputation, exceptional faculty and metropolitan Atlanta location—offering myriad social, cultural and experiential learning opportunities. This highly selective liberal arts college is known for its diverse and dynamic intellectual community. Through SUMMIT, it provides every student, regardless of major, with an individualized course of study and co-curricular experiences that develop leadership abilities and understanding of complex global dynamics.