20A — March 30 - April 12, 2012 — Green Buildings — Mid Atlantic Real Estate Journal
MAREJ G REEN B UILDINGS
Customized Energy Reduction Plans
By Glen A. Koedding, Green Sun Solar Energy Green Sun’s solar programs keepNJ ratepayer* $$$ in state
• MEP/FP engineering including LEED • Building Commissioning including LEED • Energy engineering / audits / energy modeling • NJ Pay For Performance Partner / Carbon Abatement Program partner • PA Act 129 vendor • Federal Energy Tax Incentive partner • Infrared Testing • ASHRAE High Performance Buildings Certified • Building Information Modeling (BIM) • MBE/SBE certification Contact: Jeff Gilbeaux P: 856-988-1890 Email: email@example.com PO Box 782, Voorhees, NJ 08043
ost people agree that green energy is the future; but for every-
the obvious question: why allow a leasing company to reap all the rewards? That question was the spark that led the Koedding and Torre families to create Green Sun Energy Services, a company that provides a unique alternative to the more than 270 companies now installing solar in the state – and more importantly, to help ensure New Jersey residents receive a larger share of the benefit of having solar panels installed at their home or small business. Unlike the competition, Green Sun Energy is not a typical in- staller or an out-of-state leasing company. Koedding says, “The primary objective is to enable the homeowner to own their equipment; and we, as a service organization, manage and op- timize their energy production and financial returns. Solar installations are managed as a long-term program not a one- time transaction.” When it comes to doing the legwork – reams of government paperwork, dealing with the utilities, working with banks, managing SRECs, and more – Green Sun Energy does the heavy lifting. They custom de- sign each system; install indus- try-leading equipment; make sure the equipment is monitored, cleaned, maintained and op-
timized to ensure the client is getting the maximum amount of solar energy possible. The homeowner actually owns the solar panels on their home, not a leasing company. So how does Green Sun Energy make money? By ensuring their clients make money. A major source of the company’s revenue is a small brokerage fee for trad- ing SRECs or pennies for every kilowatt hour a home or business generates via solar. That gives them the incentive to make sure the client’s entire system is producing a lot of power, and in turn producing a lot of energy credits, and thus are maximizing the returns both parties. Part of the goal is to keep New Jersey ratepayer dollars and tax dollars in the State of New Jersey. Right now, various state and federal incentives are helping out-of-state installation and leasing companies enjoy big profits – profits driven in part by the taxes paid by the people they service. The founders of Green Sun Energy Services believe the people of New Jersey should share in those rewards. *Ratepayer—a retail consumer of an electricity or water utility; a customer of a public utility Glen Koedding i s the president and managing partner of Green Sun Solar Energy. ■
d a y h o m - eowners and small busi- ness owners “going solar” seems expen- sive, almost outside their grasp unless they go with a
company that leases solar pan- els. In that case, the property owner reaps only a fraction of the rewards while the leasing company rakes in the profit. A startup out of Middletown, N.J., however, has begun to revo- lutionize solar energy in New Jersey one home at a time. The numbers speak for them- selves. Many solar installation companies will install panels on a home for “free”; but between tax credits, energy credits (SRECs), and monthly lease payments, a solar system on a home or small business could generate upwards of $75,000 for the leasing com- pany over the course of its 20 year contracts. Meanwhile, the homeowner’s benefit is a saving of about $30 a month or $7,200 over 20 years. When Glen A. Koedding and C. Ray Torre were research- ing solar energy for their own homes, they asked themselves
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