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why buy renewable energy and carbon offsets?

what are the costs?

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What are the costs?

Renewable Energy
Because renewable energy is a newer technology and not produced yet on a scale comparable with traditional fossil fuels, the production of electricity from these cleaner resources can cost slightly more. As demand increases, the capital costs will begin to decrease and as well the cost to the end user. The NC GreenPower program has been developed to equalize the costs between utility payments to
generators and the actual cost incurred in the production of their electricity. All resource suppliers to the NC GreenPower program exist independent of any utility and are dependent on the premiums offered by the NC GreenPower program in order to make these newer, cleaner sources of electricity financially viable.

NC GreenPower provides premiums to generators through tax deductible contributions from individuals and organizations across the state. These premiums are collected via the participant’s servicing utility or through direct contributions to NC GreenPower. Utilities pass all monies collected in their entirety to NC GreenPower, which administers all premiums to renewable energy generators.

Large volume customers wishing to purchase 100 blocks or more per month of renewable energy for their organization may do so at a rate of $.025 per kWh or $2.50 per 100 kWh block of renewable energy produced.

Carbon Offsets
Our newest product, carbon offsets, allows companies to support projects that reduce greenhouse gas emissions, therefore enabling companies to decrease their “carbon footprint” by providing an offset for activities whose carbon emissions cannot be readily reduced. This can include transportation of goods, travel by employees or offsets for events. 

Businesses and organizations who wish to purchase carbon offsets for their organization may do so at a rate of $4.00 per block. For each carbon offset block subsidized by a customer, NC GreenPower pays a premium to a project owner or the market for the mitigation of 1,000 pounds* of carbon dioxide or carbon dioxide equivalent (greenhouse gas emissions). Businesses and organizations will be recognized on the NC GreenPower website and in informational materials as corporate sponsors for contributions of $100 per month and higher.  Additional benefits are available to sponsors who commit to the purchase of $250/month and higher.  Details on sponsorship benefits can be found here.

*Increase from 500 pounds as of August 1, 2011 due to market changes

Brokered Bids
The Brokered Bids option provides customers interested in annually spending $15,000 or more on renewable energy credits or carbon offsets with a more competitive North Carolina option. 

Purchase renewable energy for a portion of your total use
Organizations can demonstrate a strong committment to environmental and energy quality without having to purchase their entire electric usage in green power. Participants may elect to purchase 5% or 10% or however much their objectives will allow. This purchase may only add 1-2% to their annual bill and still provide excellent environmental and public relations benefits.

Offset costs with energy efficiency
Organizations can offset much, if not all, of the cost of their participation in the NC GreenPower program through efficient energy usage practices. Energy efficiency can also omplement a larger conservation and environmental initiative. Together, with the purchase of renewable energy, these practices can significantly enhance the image of the organization both to employees and the public at large. And an effective energy management strategy that includes renewable energy purchases can create significant environmental benefits for the organization and the community it serves. One excellent tool for evaluating the energy performance of an organization is the Energy Star Portfolio Manager , which allows users to compare their organization’s energy usage to buildings of similar size and purpose.