NJR Clean Energy Ventures (NJRCEV) plans to lease space atop of CertainTeed's fiberglass insulation distribution facility in Berlin, New Jersey, for a rooftop solar system. The solar project will generate 870-kilowatts (kW) of electricity and eliminate 800 tons of CO2 annually. The solar system is expected to provide nearly 90 percent of the building's electricity needs.
NJRCEV will lease more than 300,000 square feet of roof space from CertainTeed for 20 years and has entered into a concurrent Power Purchase Agreement with the company.
As a part of this $5-million project, NJRCEV will install a new roof with state-of-the-art roof materials and thin-film solar laminates from United Solar.
The energy produced will be eligible for Solar Renewable Energy Certificates (SRECs), which can be sold to load serving businesses in New Jersey to meet their renewable energy requirements. The project is expected to generate more than 1,000 SRECs annually.
Investments made by NJRCEV will qualify for a 30 percent federal investment tax credit, and revenues generated from the Power Purchase Agreement will provide additional return on investment.
The solar system is expected to be operational by January 2011.
Other recent solar projects in New Jersey includes Dow Jones' 4.1-megawatt solar power system, as well as installations at Carrier Clinic, a ShopRite supermarket, World Class Flowers and Dina’s Interiors & Leather store.
