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Bright solar power for bright minds: REC solar panels power Cedarville University

Munich – November 4, 2013: REC, a leading global provider of solar electricity solutions, supplied its high-performing REC Peak Energy Series solar panels to Cedarville University, used in a self-consumption installation that produces enough power to cover ten percent of the university’s electricity needs. 

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The 2.15 MW ground-mounted installation is the largest solar system directly connected to a university in Ohio and helps to meet the campus’ growing power requirements. Composed of 8,792 solar panels, the installation was built by Melink Corporation and generates 2.7 million kWh of clean, green electricity each year. The power will be delivered to the University's main campus via an underground cable.

“We are pleased that Melink and the Cedarville University decided to use our REC Peak Energy Series solar panels for this pioneering installation, which will lead to further joint public-private initiatives,” comments Arndt Lutz, Senior Vice President, REC. “The installation not only contributes to environmental sustainability and cost savings, it also enables students to see firsthand how a solar system works.”

The solar installation is funded and owned by Melink, which sells the energy via a Power Purchase Agreement (PPA) to Cedarville University. The project became economically feasible for the university due to a combination of incentives like Solar Renewable Energy Certificate (SREC) program, the Federal Investment Tax Credit (FITC) and the Modified Accelerated Cost Recovery System (MACRS).

“We are highly pleased with the customer service, price and quality REC delivers,” adds Steve Melink, President of Melink Corporation. “In the first two months, the installation already exceeded the production estimates.”

Thanks to the solar installation, Cedarville University is increasing the predictability of its’ energy costs for the next ten years as well as helping to reduce costs due to rising prices from conventional sources and enabling more energy independence. In addition, the system will be used as a teaching tool for Cedarville students in various disciplines.

For further information please contact:

Anja Hesse
Public Relations Manager, REC
Leopoldstr. 175, 80804 Munich, Germany
Phone +49 89 54 04 67 223 
Email anja.hesse@recgroup.com

About REC:

REC is a leading global provider of solar energy solutions. With more than 15 years of experience, we offer proven high-quality solar products, project development services and investment opportunities worldwide. Together with our partners, we create long-term value by providing responsible solutions that help meet the world's growing energy needs. REC is listed on the Oslo Stock Exchange (ticker: RECSOL), employs more than 1,500 people globally and manufactures solar panels at its integrated production plant in Singapore.

Find out more about REC at www.recgroup.com