CHARLOTTE, NC and DENVER, CO (May 16, 2012) — Campus Crest Communities, Inc. (NYSE: CCG), a leading developer, builder, owner and manager of high-quality, purpose-built student housing under The Grove® brand, today announced a partnership with SolarCity, a national leader in clean energy products and services, to install more than 9,000 solar panels on its student housing communities located in Greeley, Colorado; Flagstaff, Arizona; and Las Cruces, New Mexico. When complete, the initiative will:
• Provide more than 2.3 million kilowatt-hours of renewable power annually
• Offset electricity consumption by approximately 50 percent
• Eliminate over 80 million pounds of annual carbon dioxide emissions, the equivalent of taking approximately 7,000 cars off the road for a year.
Ted W. Rollins, Co-founder and Chief Executive Officer of Campus Crest, and Andrew H. Young, Vice President and head of Campus Crest’s sustainability initiative said, “Sustainable living is central to our company philosophy and business practices, and we are pleased to find that our residents are equally as passionate about the concept. Shifting consumption towards clean energy will further our mission to be a leader in regenerative practices by using renewable sources to limit carbon emissions and reduce overall energy costs, which in turn allows us to provide our residents with cleaner, more energy efficient housing.
This is a great start to our broader commitment to alternative energy and global regeneration, and clearly demonstrates that if you are thoughtful, you can balance economics with environmental and social agendas to create a thriving company. We continue to push our People & Planet initiatives across our platform, and across our industry-leading residence life programs."
“Campus Crest is showing future generations there are better energy options available by giving students access to renewable power,” said Toby Corey, Chief Revenue Officer at SolarCity. “It’s possible for many housing developers to pay less for solar electricity than they pay for utility power and pass on the benefits of clean power to their tenants—SolarCity has completed more than 100 solar projects for housing developments in the U.S.”
Said Josie Plaut, Director of Projects for the Institute for the Built Environment and Executive Director of the Center for Living Environments and Regeneration (CLEAR): “Campus Crest is a great example of seeing today’s business leaders act responsibly and take a balanced approach to drive meaningful results in all areas of their business. We are excited to be involved with them and can see the progress they are making towards acting socially and environmentally responsible while continuing to create strong returns for their shareholders.”
These projects reflect Campus Crest’s commitment to sustainability and making a positive environmental, social, and economic impact on the communities in which it owns and operates student housing developments. To help drive this initiative, the company has partnered with The Institute for the Built Environment (IBE) at Colorado State University, a multidisciplinary institute whose mission is to foster stewardship and sustainability of natural and built environments, and the Center for Living Environments and Regeneration (CLEAR), a 501c(3) non-profit organization focused on global regeneration (www.clearrevolution.org).
SolarCity® (NASDAQ: SCTY) provides clean energy. The company has disrupted the century-old energy industry by providing renewable electricity directly to homeowners, businesses and government organizations for less than they spend on utility bills. SolarCity gives customers control of their energy costs to protect them from rising rates. The company makes solar energy easy by taking care of everything from design and permitting to monitoring and maintenance. Visit the company online at www.solarcity.com and follow the company on Facebook & Twitter.