Ampion Renewable Energy, a provider of community solar solutions, has announced the launch of its new Green-e Energy certified product, Ampion+. Ampion is the first organization to build a product combining community solar subscriptions with Renewable Energy Certificates (RECs), enabling enterprise organizations to reduce energy costs and substantiate environmental claims for their environmental, social and corporate governance (ESG) mandates.
“Many large organizations struggle to balance energy cost savings and Scope 1 emissions objectives with broader ESG initiatives. Ampion+ simplifies one important aspect of the ESG reporting puzzle,” said Vihann Kong, senior executive director at Ampion. “They acquire Green-e Energy certified RECs without having to incur the administrative cost of procurement or the financial cost of additional out-of-pocket expenditures. With just one agreement, companies get the savings and renewable energy benefits of community solar along with RECs that can help satisfy Scope 1, 2 and 3 requirements.”
Purchasing and budgeting for RECs can create challenges and delays for companies that do not specialize in renewable energy. With Ampion+, Ampion takes the lead by retiring RECs on behalf of the subscriber. The RECs are bundled with the subscriber’s community solar subscription, so companies do not need to manage separate processes for energy savings and ESG efforts. Ampion has already implemented Ampion+ with some of its large corporate subscribers, including Intercontinental Hotels Group (IHG).
To offer Ampion+ to businesses, Ampion went through a certification process with the Center for Resources Solutions, allowing Ampion+ to earn a Green-e Energy certification, the industry standard for renewable energy verification. The certification confirms that the renewable energy is generated from new facilities, marketed transparently and accurately, and delivered to the purchaser, who maintains sole title. By meeting these standards, Ampion is able to sell Green-e Energy Certified RECs, which are retired on behalf of the corporate subscriber. Once a subscriber claims the renewable energy associated with the REC, the REC comes out of circulation and can no longer be sold. This gives Ampion+ customers the evidence required for ESG reporting.
Community solar allows electric utility customers to subscribe to a share of solar energy from nearby solar farms and save on their electricity costs. By participating in state community solar programs through Ampion, residential and corporate subscribers contribute to the energy grid’s transition to clean energy sources. The development of community solar projects is often dependent upon enterprise subscribers. These large entities serve as an anchor for the project developer, increasing the financial attractiveness of the project and improving its chance of being built, benefiting low-to-moderate income and other residential subscribers.
“Ampion is proud to bring this innovative offering to the community solar market,” said Nate Owen, CEO of Ampion. “By bundling Green-e Energy certified RECs with traditional community solar savings, Ampion is helping businesses streamline their renewable energy efforts. Ampion+ provides a huge benefit to corporate subscribers, and also to solar developers, who can rely on the stability of additional anchor subscribers for their community solar sites. We look forward to helping more top organizations save money on energy, reduce their carbon footprint and simplify their ESG reporting initiatives.”
News item from Ampion