Bradley University is a prestigious private university located in Peoria, Illinois. Known for its commitment to academic excellence and community engagement, Bradley University offers a comprehensive range of undergraduate, graduate, and professional programs in diverse fields of study.
As trusted energy advisors, 5 manages Bradley University’s energy procurement strategy and execution, including Bradley University’s participation in demand response. As 5 sought additional value for Bradley, our experts identified an opportunity to achieve energy bill savings through participation in community solar. 5 orchestrated a community solar offtake agreement for Bradley University that will add new renewable energy to Illinois’s power grid. Our team performed an invoice analysis to calculate the savings opportunity for Bradley, vetted multiple solar developers, helped present the business case, and negotiated contract terms to guide Bradley to a successful agreement.
Bradley University will be the anchor subscriber on four community solar projects constructed in Illinois in the next two years. The projects stand to produce over $115,000 in annual cost savings for Bradley University, and over 26,000 annual MWh of renewable electricity to advance Illinois’s renewable energy goals. These projects require zero out-of-pocket cost, no equipment, and will produce energy bill savings for Bradley for 20 years.
"Bradley University is proud to support renewable energy development across Illinois," said Stephen Standifird, President of Bradley University. "This agreement with Nexamp and 5 underscores our commitment to innovative energy solutions. By leveraging renewable energy sources, we are not only investing in a cleaner future but also demonstrating our dedication to responsible fiscal management."
Community solar projects are off-site solar developments that send power directly to the electricity grid, moving states like Illinois toward their renewable energy goals. Anchor subscribers are credit-worthy entities that agree to purchase solar bill credits at a cost discount in exchange for long-term agreements that provide solar developers with the necessary financial certainty to get new renewables built.
If you would like to discuss enrolling in community solar, contact us at 5 to talk to one of our energy and sustainability experts.
