Renewable Energy Fee Fund and Committee
As the costs associated with purchasing renewable energy certificates (REC) have come down over the years, surplus funds from the Renewable Energy Fee have become available to students via the Renewable Energy Fee Fund. A Renewable Energy Fee Committee is charged with overseeing the status of the surplus fund and approves any expenditure including the awarding of grants as described below.
Reasons for a Renewable Energy Fee Surplus
The surplus resulted from several factors including 1) establishing a competitive bid process among renewable energy certificate (REC) providers 2) lower than projected prices in the REC market, and 3) high enrollment and participation by CAS students in the program—particularly in 2011-2012 and 4) reductions in electricity use. There is no guarantee that there will continue to be a surplus in future academic years; however the Renewable Energy Fee committee (as governed by the ASLC Senate Resolution FA13 SR002) and sustainability managers must maintain an 8% reserve, in order to manage any fluctuations or unanticipated increases in the REC costs.
Renewable Energy Fee Committee
The Renewable Energy Fee Committee is comprised of two ASLC representatives (appointed by the xx), two at-large student members, a paid student position (Renewable Energy Intern), and a representative from the following staff departments; Business Office, Student Life, and the Sustainability Manager.
The Renewable Energy Fee Fund Committee will assess each application according to the below rubric. Applicants are expected to address the application categories specifically while keeping this rubric in mind. The primary driver of the application will be the presence or absence of a renewable energy component (please see definition below). Additionally, the degree to which the project supports renewable energy must be described in detail. The extent of the correlation will impact the amount of funding the applicant is able to receive toward their overall project. The remaining scores will assess the viability and significance of the project/initiative as a whole.
Renewable energy includes resources that rely on fuel sources that restore themselves over short periods of time and do not diminish. Such fuel sources include the sun, wind, moving water, organic plant and waste material (eligible biomass), and the earth’s heat (geothermal).
Green power is a subset of renewable energy and represents those renewable energy resources and technologies that provide the highest environmental benefit. EPA defines green power as electricity produced from solar, wind, geothermal, biogas, eligible biomass, and low-impact small hydroelectric sources.
The Committee will assess each of these categories and assign a score (1-5). The renewable energy score impacts the funding available to the applicant (a score of 1 allows for 20% or less, 2 is 40% and so on up to a score of 5 and 100%).