East Providence to save $670K annually with Green Development partnership
The City of East Providence will save approximately $18.5 million over 25 years by opting for clean, renewable energy for schools, housing developments, and municipal facilities.
EAST PROVIDENCE, RI – June 1, 2023 – The City of East Providence announced today that it has signed a 25-year agreement with Green Development LLC (greenri.com), a Cranston-based developer of large-scale solar, wind, and battery projects.
The agreement, enabled by the Rhode Island Virtual Net Metering program, makes it possible for qualified entities, such as municipalities, quasi-government agencies, nonprofits, and schools to realize significant savings on their energy bills while contributing to the growth of clean, renewable energy in Rhode Island. The annual savings will be approximately $670,000 per year and $18,500,000 over the life of the agreement, Green Development is able to maximize the energy discount because all three East Providence entities—the school district, housing authority, and the city itself— signed their agreements simultaneously, along with plans for a solar canopy at the city’s police facility. As part of a public-private partnership, the canopy project will feature covered parking and electric vehicle charging stations.
“We are looking forward to saving millions of dollars on energy bills over the next few years and beyond,” East Providence Mayor Bob DaSilva said. “The long-term agreement will help us achieve our clean energy goals while enabling us to devote a greater portion of our budgets to programs and services that serve East Providence residents.”
In March 2021, the city began working with Green Development to conduct a 12- month trial run, based on a subset of our energy usage. Once it was obvious that participation in the RI Virtual Net Metering program provides sizeable savings, both the East Providence School District and the East Providence Housing Authority determined that the program makes good economic sense for them, as well. “We are
pleased to welcome the City of East Providence as our newest clean energy partner, and we hope that the city can serve as an example to other cities and towns that renewable energy, in conjunction with the RI Virtual Net Metering program makes sense from an economic standpoint, in addition to benefiting the environment”, added Green Development Founder and CEO Mark DePasquale.
“As a leading, locally owned and operated developer of renewable energy projects, we are proud to be one of the drivers of the ongoing and quickly-accelerating energy transformation here in Rhode Island,” Green Development VP of Business Development Hannah Morini. “When electricity is increasingly produced from instate renewable energy assets, the level of energy security also rises, making Rhode Island less dependent on out-of-state fossil fuel sources. The support and participation of energy partners, like the City of East Providence, makes it possible for us to continue this work.”
