Pivot Energy and CU Boulder Partner to Develop Off-Site Solar Energy Project in Colorado

Pivot Energy, a leading national renewable energy provider and independent power producer, and the University of Colorado Boulder (CU Boulder) have finalized a 5 megawatt dc (MWdc) virtual net metering agreement. Under this 20-year subscription, Pivot Energy will develop, own, and operate an off-site net metering solar project in Weld County.

CU Boulder is leveraging virtual net metering, enabled by Colorado Senate Bill 21-26 in 2021, allowing organizations to benefit from energy produced by offsite solar installations. The University will utilize the solar power generated by the offsite project without needing to install solar panels onsite. The generated solar power will feed directly into the electric grid, and CU Boulder will receive credits for the renewable energy on its electric bills.

Moreover, 100% of the Renewable Energy Credits (RECs) from the offsite solar project will be transferred to CU Boulder, supporting the university’s goals to reduce Scope 2 greenhouse gas (GHG) emissions by 50% by 2030 and achieve carbon neutrality by 2050.

The project is expected to be completed in early 2026 and will generate approximately 9.5 million kilowatt-hours (kWh) of solar energy annually. This is enough to power over 850 homes and remove 1,580 passenger cars from the road for one year. The solar panels for the project, if laid end-to-end, would cover the area of four football fields.

“Pivot Energy is excited to partner with a renowned university like CU Boulder on this impactful clean energy project that brings more solar power to Colorado,” said Mat Elmore, SVP of Strategic Accounts at Pivot Energy. “CU Boulder illustrates how colleges and universities can be leaders in helping advance the clean energy transition.”

“The Pivot Energy agreement is an important step for CU Boulder in the sustainability realm,” University of Colorado Boulder Chancellor Justin Schwartz said. “We are pleased to be an inaugural subscriber under the innovative policy passed into law in Colorado to expand Colorado’s solar resources and demonstrate continued leadership in the energy transition. Sustainability – in our research, teaching and operations – is one of my top priorities as chancellor, and I am thrilled that this agreement is one of the first big projects I have the pleasure of sharing with our campus community and fellow Coloradans.”