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Certified Steel, Nexus Properties and SunPower Corp. today announced an agreement to build a 1.2-megawatt SunPower solar power system at the Certified Steel Company facility in Hamilton, N.J. The system, which is expected to be complete in July, will be the largest installation financed by PSE&G’s solar loan program to date. It is expected to generate the equivalent of nearly 100 percent of the power required by the 330,000-square-foot full line steel service center.
Approved by New Jersey’s Board of Public Utilities (BPU) in April 2008, the two-year pilot solar loan program allows PSE&G, the regional utility provider, to offer a loan to interested parties installing solar panels at their facilities. The loans can finance up to 60 percent of the cost of solar-panel installation. Under the agreement, Certified Steel will repay its loan with the renewable energy credits (SRECs) generated by the system.
“We are proud to take a leadership role in sustainable development, and have enjoyed the cooperation of the BPU and PSE&G,” said Andrea Sussman, managing member of Nexus Properties, the developer for the project. “The Solar Loan Program has provided a level of economic certainty that does not otherwise exist in the marketplace. Moving forward, we envision similar programs that foster private investment in solar power projects and help the state of New Jersey reach its renewable energy goals.”
“SunPower is providing turnkey design and installation services and high-efficiency solar technology to optimize the power generated by the system and the savings that Certified Steel will achieve on their electricity costs,” said Tom Leyden, managing director at SunPower. “We applaud their leadership in taking advantage of PSE&G’s Solar Loan Program. Clean, reliable solar power makes good sense today for businesses and our environment.”
At the Certified Steel site, SunPower will install a lightweight roof mount solar power system with SunPower solar panels, the most efficient panels on the commercial market.
Certified Steel is a full line steel service center that has been in business for over 51 years. With over 100 employees, they operate in a 330,000 sq. ft. processing and warehouse facility in Hamilton, NJ. For more information, visit www.certifiedsteel.com.
Nexus Properties, Inc. is a family owned, full service Commercial Real Estate Development Company that has successfully existed since the mid 1970’s and currently has an owned portfolio approaching 2/million sq. ft. They provide day to day Property Management services for more than 175 tenants in their facilities and provide occupant services for over 5,000 clients and their visitors on a daily basis. In 2006 Nexus began directing its interests in renewable energy and by the third quarter of 2008 had completed two individual 200/kw solar array’s on the roof tops of its commuter parking decks in Trenton, N.J. – a first for New Jersey. Beyond this massive project currently getting underway for Certified Steel, they have a 900/kw system in the final design stages for its commuter parking facility at the Hamilton Train Station in Hamilton, N.J. Future projects are to include several of their office building roof tops and warehouse facilities.
SunPower Corporation (Nasdaq: SPWRA, SPWRB) designs, manufactures and delivers high-performance solar electric systems worldwide for residential, commercial and utility-scale power plant customers. SunPower high-efficiency solar cells and solar panels generate up to 50 percent more power than conventional solar technologies and have a uniquely attractive, all-black appearance. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe, Australia, and Asia. For more information, visit www.sunpowercorp.com.
Read Large-Scale Solar Power Systems: Construction and Economics from Amazon.