The rapidly falling costs of solar and the rapid growth of clean energy are causing ripples of excitement in an otherwise depressed economy. But we should not forget that old adage that the cheapest energy is almost always the energy you don't use. That's why it's particularly exciting to read over at GreenBiz that universities are making a substantial, collective commitment to energy efficiency, and they are doing it in a pretty innovative way:
The Billion Dollar Green Challenge may have been launched just this week, but already 32 universities, Harvard and Stanford among them, have committed $65 million to investments that finance energy efficiency upgrades.
Launched by the Sustainable Endowments Institute (SEI) and 15 partner organizations, the Green Challenge encourages colleges, universities, and other nonprofit institutions to invest a total of $1 billion in revolving funds to reduce energy consumption and lower operating costs on campuses. Savings achieved in utilities budgets by the revolving fund will be reinvested to support future green projects.