Hall’s Warehouse and DT Solar to Build the Largest Solar Energy Installation For a Corporation in the US
September 28, 2007, New Brunswick, NJ
Source: DT Solar, press release
http://www.turnerenewablenergy.com/9-28-07Hallsrelease.html
DT Solar, a Turner Renewable Energy company, and Hall’s Warehouse Corporation, a family-owned refrigerated and frozen food storage and distribution company, today announced an agreement to build a 2 MW solar electric power system to supply electricity to their facility in South Plainfield, New Jersey. When completed, this project will be the largest rooftop solar electric system serving a private company in the United States. The solar power system will be located in South Plainfield, NJ, on one of Hall’s seven state-of-the-art frozen and refrigerated warehouses serving the Northeast and Mid-Atlantic states. The solar array will consist of approximately 13,500 solar modules, will produce nearly 3 million kWh of clean energy and will eliminate more than 2 million pounds of CO2 emissions annually.
Hall’s will make no up-front investment in the solar project. Instead, Hall’s will purchase all of the electricity produced by the system under a long-term agreement at rates below what they would pay the local utility for electricity. “We are very pleased that we can significantly cut our energy costs, while furthering our overall commitment to energy conservation and clean energy technology, without any up-front capital outlay” said Bill Jayne, who owns the company with his two brothers Dale and Bruce. “This means that we realize savings from day one – the payback is immediate, both for the business and for our environment.”
The solar power system will be installed as part of the New Jersey Board of Public Utilities’ “SREC-Only Pilot Program”, a new market-based incentive program introduced by the BPU to replace the up-front cash rebates offered in recent years as a means of meeting the state’s legislatively mandated solar power development goals. The “SREC-Only Pilot Program” enables the financing for the project by creating a market for trading Solar Renewable Energy Certificates (SRECs) in the state and providing a level of assurance on the value of SRECs over an eight-year timeframe.
“Hall’s commitment is a milestone for the solar market and for New Jersey’s new solar financing program.” said Jeanne Fox, President of the New Jersey Board of Public Utilities. “This project, and the SREC financing that makes it possible, brings us one step closer to reaching our goal of 2 percent by 2020.”
DT Solar will design, build and operate the system, and work with an investment partner to finance the cost of the installation. Revenue from electricity sales to Hall’s, and the sale of Solar Renewable Energy Certificates (SRECs) to New Jersey electric utilities, will pay for the investment over time. “DT Solar is very excited to be extending our already successful partnership with Hall’s Warehouse and the State of New Jersey.” said Tom Kuster, CEO of DT Solar. “Hall’s leadership, with the support of the NJBPU, continues to raise the bar for the rest of the nation in terms of solar power.”
About Hall’s
Hall’s Warehouse Corporation is a family owned and operated company since 1927. They have Hall’s Warehouse Corp. has six warehouse facilities serving the Northeast and Mid-Atlantic states comprising over 1.5M square feet of refrigerated, frozen and dry storage space. Visit www.hallscorp.com for additional information.
About DT Solar
DT Solar develops and delivers clean, reliable and cost-effective solar electric power systems for commercial, industrial, government and utility clients. Turner Renewable Energy has developed many of the largest and technically demanding solar power systems in North America. Visit www.turnerenewablenergy.com for more information.