Press Release
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Nov 15, 2022 14:30 EST
TINTON FALLS, N.J., November 15, 2022 (Newswire.com)
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Today, Ecogy Energy (“Ecogy”), in partnership with the American Red Cross, unveiled their latest renewable energy project. The 120.1 kWdc solar system, developed by Brooklyn-based Ecogy, will provide the nonprofit with all the solar energy it needs to offset annual on-site electricity use, making the building net-zero.
The Red Cross New Jersey Region entered the solar development process with their local community at heart and top of mind. By installing solar on-site, the Red Cross will not only reduce their own need for electricity but will also help New Jersey reach its goal of 50% renewable energy sources by 2030.
The first rooftop solar array system (completed in 2022) will directly provide power for on-site usage. The second system, however, will be a community solar project that will provide no-cost subscriptions to local residents. These subscriptions will enable local households to access renewable energy and receive a discount on a portion of their electric bill with no cost to sign up.
“The savings generated by building this solar system atop our roof will allow us to commit even more resources to providing quality support to communities and families in need,” said Rosie Taravella, regional chief executive officer, American Red Cross New Jersey Region. “As a humanitarian organization that serves families and communities impacted by climate disasters, our goal is to minimize our own environmental footprint. We’re excited to be doing our part here in New Jersey.”
The 120.1 kWdc rooftop system will produce roughly 2.7 million kilowatt-hours of electricity over the next 20 years, equivalent to powering 19 homes over the same term, or the emissions avoided from burning over 2.1 million pounds of coal.
The above environmental benefits afforded by the solar array will be instrumental in helping the Red Cross become a more sustainable organization, while also creating a blueprint for future installations.
Rooftop systems provide the added benefit of maintaining undisturbed areas such as greenfields and forests. By developing on the built environment, no additional impervious surfaces were created, groundwater flow remains the same, and no trees were cut down.
“The American Red Cross is a pillar of light and hope for communities across the globe.” Commented Jack Bertuzzi, CEO, Ecogy Energy. “It is an honor to support the Red Cross in furthering the deployment of renewable energy. We are continually impressed by their dedication to supporting communities, and we hope to continue to work with them in the future.”
Brooklyn-based developer, financier, and owner-operator Ecogy will sell the power produced by the system back to the Red Cross through a power purchase agreement. In exchange, Ecogy will retain the Solar Renewable Energy Credits (“SREC”) generated for each MW of solar energy and have the option to trade or sell them like a stock option.
Source: Ecogy Energy
