Solar energy for green university: estimation of economic, environmental and image benefits

Abstract

The paper considers the main components of the green university concept, the foreign experience of environmental transformation of higher education institutions, and the impact of eco-innovations implementation on strengthening universities’ position in the UI GreenMetric World University Rankings. The green strategy of Sumy State University, the results of its implementation, and prospects for improvement in terms of increasing renewable energy sources usage through the solar power plant installation are analysed. The effectiveness of the solar power plant investment project and the reduction of carbon dioxide emissions into the atmosphere by replacing conventional electricity with electricity generated by the solar power plant are estimated. It is proved that in addition to economic and environmental benefits, the implementation of the solar energy project will positively impact the university’s image at the national and international levels.