Condo board purchases renewable energy credits

A Chicago condo is purchasing renewable energy credits from an Iowa wind farm. (Click head.)

Following in the footsteps of major corporations such as Whole Foods and Johnson & Johnson, the building's association has approved a contract to purchase renewable energy credits from an Iowa wind farm. The clean renewable energy will go into the electric grid to alleviate some of the system's demand for coal, gas and nuclear power-producing facilities.

Felix Friedman, the association's president, proposed the idea of creating a "green" building. The condo association brokered a deal to purchase "green credits" from Midwest Renewable Energy Credits in the amount that offsets the total quantity of electricity used by the building. Friedman said the decision was made to help the environment, and to attract environmentally-conscious real estate owners.