WATERTOWN, Conn. and WORCESTER, Mass., Feb. 5, 2013 (GLOBE NEWSWIRE) -- World Energy Solutions, Inc. (Nasdaq:XWES), a leading energy management services firm, today announced it has helped the Taft School, an independent boarding and day school, successfully procure more than 13 million kWh of electricity from renewable sources for its Watertown campus. The resulting 36-month contract is expected to reduce the school's carbon footprint while cutting electricity costs by over $300,000.
Through a series of online auctions run on the World Energy Exchange®, the Taft School was able to test various terms and products in a transparent and objective manner. The competitive event attracted numerous suppliers, yielding a winning price more than $.02/kWh less than its prior contract, while delivering 100% green power. Delivery under the new contract terms began January 26, 2013.
By purchasing 100% green energy, the Taft School is expected to reduce its carbon dioxide emissions by 3,169 metric tons each year. This reduction is the equivalent of each of the following:
- Annual greenhouse gas emissions from 660 passenger vehicles
- CO 2 emissions from 355,213 gallons of gasoline consumed
- CO 2 emissions from 7,369 barrels of oil
- CO 2 emissions from the electricity use of 474 homes for one year (Source: EPA Greenhouse Gas Equivalencies Calculator)