ENERGY

Comcast Takes First Step Towards Carbon Neutrality with 250 MW Solar Deal

Comcast | April 01, 2022

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On March 31, Comcast announced that it had agreed to buy 250 megawatts (MW) of solar electricity from Constellation, which will power about 13% of its U.S. operations and most of its Mid-Atlantic operations with clean, renewable energy.
The agreement will fund the construction of Scout Clean Energy's Blue Sky Solar Project in Illinois, resulting in creating local jobs and the addition of clean energy to the United States' power grid.

“Sourcing clean, renewable energy is the top priority for meeting our goal to be carbon neutral by 2035, This marks the first of many major green investments that are already underway or on the immediate horizon which demonstrate our commitment to sustainable, responsible business.”

- Peter Kiriacoulacos, Executive Vice President and Chief Procurement Officer at Comcast.

Comcast is committed to becoming carbon neutral by 2035 for Scope 1 and 2 emissions, or those it owns and controls, across its global operations. With purchased electricity accounting for most of these emissions, achieving this goal will require a focus on renewable energy.

Comcast's renewable energy strategy will prioritize securing green tariffs, direct power purchase agreements (PPAs), and virtual power purchase agreements (PPAs) through contracts that add new renewable capacity to the grid. Additionally, it will include the development of onsite renewable energy capacity and the supplementation of electricity needs by purchasing clean energy projects or renewable energy certificates (RECs).

“We commend Comcast on its carbon neutral commitment and are pleased that our offsite renewable solution will serve as a significant steppingstone toward achieving that goal, As our nation transitions to a clean energy future, Constellation is dedicated to offering the products, services and expertise that help our customers strategically manage their energy use and reduce their carbon footprints.”

- Jim McHugh, Chief Commercial Officer, Constellation.

Highlights of the Project Include the Following:

Comcast will purchase 250 megawatts (MW) of carbon-free solar energy from the 300 megawatt Blue Sky project, accounting for a majority of the project's total output. Blue Sky is one of the most significant solar projects approved in the PJM power grid, which serves the Mid-Atlantic and portions of the Midwest in the United States, and Comcast is the project's sole customer.

Comcast will be able to avoid nearly 360,000 metric tons of carbon dioxide emissions annually as a result of the agreement – the equivalent of avoiding the emissions produced by more than 65,000 homes for an entire year.

The project will generate up to 400 construction jobs and 20 new long-term jobs in the community, and $36.3 million in tax revenue over the project's life, with $25.4 million going directly to local schools.

By December 2024, Blue Sky is expected to begin commercial operations. In addition, Comcast has entered into a 15-year agreement with Constellation to purchase energy and renewable energy credits from Blue Sky as part of its retail electric supply contract beginning in 2025.

“We are pleased to work with Comcast and Constellation to deliver carbon-free solar energy and invest $400 million into the local community, creating new sustained jobs and tax revenue for local schools, Comcast’s commitment made this possible.”

- Michael Rucker, founder and CEO of Scout Clean Energy.


Spotlight

Can solar power REALLY save you money? The short answer is yes! But like any investment you need to do your due diligence. Here’s what you need to know to get started: Solar is a long-term investment. Think of it as if you’re pre-paying for your electricity costs upfront, and then you’re reaping the benefits for years to come. Imagine that 30 years ago you could have installed a gas pump in your backyard that could supply all of your fuel needs. However, lets’ say the gas pump required a one-time fee of $15,000. You may have hesitated because that one-time fee seemed like a lot of money.

Spotlight

Can solar power REALLY save you money? The short answer is yes! But like any investment you need to do your due diligence. Here’s what you need to know to get started: Solar is a long-term investment. Think of it as if you’re pre-paying for your electricity costs upfront, and then you’re reaping the benefits for years to come. Imagine that 30 years ago you could have installed a gas pump in your backyard that could supply all of your fuel needs. However, lets’ say the gas pump required a one-time fee of $15,000. You may have hesitated because that one-time fee seemed like a lot of money.

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