A new solar installation should have Edison, New Jersey shining cleaner and brighter than ever.
NJR Clean Energy Ventures announced Thursday its new agreement with Edison-based Adler Development to put solar installations on four of the developers' local buildings. The 3.9-megawatt project employs United Solar's UNI-SOLAR light weight, thin-film solar modules.
The project is partially funded by a 30 percent federal investment tax credit, and electricity from the solar installation will qualify for Solar Renewable Energy Certificates (SRECs), which can be sold to other utilities to help them meet their renewable energy requirements.
Adler will provide a 20-year lease to NJRCEV for over 900,000 square feet of roof space on four different buildings. The buildings' tenants will get a power purchasing agreement from NJRCEV that is competitive with their present utility rates.
"By maximizing underutilized space to provide clean, renewable energy in the state, we are effectively leveraging our expertise to help provide savings to our customers as well as meet our state's renewable energy goals, create jobs and grow our company," said Laurence Downes, the chairman and CEO of New Jersey Resources, NJRCEV's parent company.
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A new solar installation should have Edison, New Jersey shining cleaner and brighter than ever.
