Energy Trust of Oregon has released its annual report detailing the nonprofit’s activities, achievements and financial performance in 2019. The organization met its yearly goals for saving electricity and natural gas and far surpassed its goal for renewable energy generation. These goals were met while maintaining low administrative costs and earning high customer satisfaction reviews.
The report highlights innovative ways Energy Trust is working to reach more utility customers, including partnering with community action agencies on energy-efficiency improvements for low-income residents and a pilot that replaces aging manufactured homes with new energy-efficient models.
It also provides updates on Energy Trust’s progress toward meeting its diversity, equity and inclusion goals, including increasing the number of projects completed by women- and minority-owned trade ally contractors and increasing residential customer participation in communities of color.
The 2019 report comes as Oregonians grapple with the severe impacts of the COVID-19 pandemic, including on small businesses, minorities and customers with lower incomes. Energy Trust Executive Director Michael Colgrove says the organization will work to support utility customers as the state re-opens its economy and is able to focus on the state’s recovery.
“As we assess the impact the pandemic is having on our customers, we see that the benefits of our investments on behalf of those utility customers are needed now more than ever,” said Colgrove. Energy efficiency helps utility customers stretch their dollars further by lowering bills, keeps costs down for businesses and improves the comfort of homes. Renewable energy improves the quality of our air and is a clean source of electricity that benefits everyone in our state. In a situation such as the one we all find ourselves in today, these benefits are critical.”
Since its founding in 2002, Energy Trust’s cash incentives, energy savings and renewable energy generation efforts have:
- Saved participating customers more than $3.9 billion on energy bills
- Added $8.3 billion to the local economy
- Kept more than 32.7 million tons of carbon dioxide out of the atmosphere, the equivalent of removing more than 6.9 million cars from Oregon roads for one year
- Saved 782.5 average megawatts and 71.2 million therms cost effectively and at low cost; this is enough energy to power more than 667,000 homes and heat more than 140,000 homes with natural gas
- Generated 131.9 average megawatts of clean, renewable energy, enough to power nearly 112,500 homes
Energy Trust’s annual report is a requirement of its grant agreement with the Oregon Public Utility Commission. It shows how the organization performed against nine annual performance metrics from the OPUC, including receiving an unmodified financial audit opinion.