The 2014 Power Purchase Agreement between George Washington University (GW) and Duke Energy Renewables, Inc. (DER) was a pioneering agreement, demonstrating an important way in which universities and private corporations can constructively partner to advance sustainability. The innovative arrangement provides GW with one half of its electricity consumption from solar power.
To build on this positive experience, GW and DER are now leveraging the world-class expertise of GW faculty with the innovative spirit and business acumen of DER to advance research in sustainability. To this end, GW and DER have entered into a Memorandum of Understanding establishing the Duke Energy Renewables Innovation Fund.
On April 18, 2017 Duke Energy Renewable’s (DER) CEO Rob Caldwell announced that professors Stuart Licht and Peter LaPuma had won the 2017 DER Innovations Fund award of $85,000. Combined with the three Innovation Fund awards totaling $140,000 from 2016, the Fund has now contributed $225,000 to GW research efforts.