Princeton Power Systems Invests in Next-Generation Solar Installation
Wednesday, August 4th 2010 12:00 PM
By GetSolar Staff.
Princeton Power Systems announced Tuesday that it will invest $1.5 million in a Princeton, New Jersey solar installation for its corporate headquarters. Combining 200 kilowatts of solar photovoltaic capacity with lithium-ion batteries for power storage, the new solar array will help give Princeton a greener grid.
By tying the entire system to a grid-tied inverter manufactured by Princeton, the solar installation will also leverage the power of smart grid technology to regulate the flow of power from the renewable energy source. Combining smart grids with battery storage is one strategy for smoothing out the shifting outputs of solar installations.
Under the state of New Jersey's landmark program, Princeton Power will produce Solar Renewable Energy Certificates, which it can then sell to other electricity producers. These SRECs have been key in the development of the New Jersey solar market, allowing independent firms to recoup their initial investment by selling the credits to big utilities which need to meet certain renewable energy goals.
Financing comes partly from the Clean Energy Manufacturer's Fund.
"Our goal is to show that this is possible and cost-effective today, using available technologies, while creating jobs and doing our part to help the environment," said Darren Hammel, Princeton Power's executive vice president of business development.
New Jersey, one of the top solar markets in the U.S., has seen a stark drop off in one of its most important solar incentives. Now Platts reports that a last ditch effort to provid ...
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 Adle ...
Financial news publishing company Dow Jones will soon have one of the country's biggest solar arrays at a corporate site.The firm is building a 4.1-megawatt solar-power system at i ...
A program in New Jersey aimed at promoting solar energy investments among homeowners has won an award from the Environmental Protection Agency. The New Jersey Board of Public Utili ...
Subscribe
Princeton Power Systems 
