Electricity customers in 17 states are able to choose who they buy their electricity supply from. This “retail choice” has become important as campuses look to fulfill their sustainability goals through clean energy supply. Whereas buying off-site renewable energy from your incumbent utility would require the development of a Green Tariff in a vertically-integrated market, campuses in “retail choice” states can procure off-site renewables directly from a renewable project of their choosing today. This structural advantage has led to the emergence of off-site renewable transactions consummated under the Virtual Power Purchase Agreement (aka “VPPA”) construct.