Oct 6, 2011 - US solar power plants developer Renewvia Energy yesterday switched on a 1.26-MW rooftop solar power system in the state of New Jersey.
The USD-9-million (EUR 6.7m) solar system includes 5,304 Suniva solar panels installed on the roof of a distribution centre developed by Industrial International Inc.
The facility is expected to produce 1,500 MWh of electricity, enough to save 247 tonnes of carbon dioxide emissions a year, Renewvia said. The building's tenants Shipco Transport and Excel Inc have signed power purchase agreements (PPA) with Renewvia for energy from the system, expecting to save USD 50,000 of electricity costs a year.
The project has received partial funding through a USD-247-million loan programme of utility Public Service Electric and Gas Company (PSE&G), a unit of Public Service Enterprise Group (NYSE:PEG), to help its electric customers install solar systems. The programme finances some 50% of a solar system in return for renewable energy certificates (RECs) from the system's output.