Real Estate Journal — Green Buildings — November 11 - December 8, 2016 — 23B
www.marejournal.com
M id A tlantic
G reen B uildings Initiative at Ewing, NJ, property underscores LMC’s commitment to sustainability Vanguard Energy Partners complete rooftop solar project at Capitol Plaza
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put, it’s tantamount to having a giant lightbulb on the roof that will generate an esti- mated 420,000 kilowatt hours of solar electricity in the first year alone,” according to Alex Rivera , Vanguard’s senior vice president of project de- velopment and originations. “This energy savings is the equivalent, on a yearly basis, to removing 62 passenger vehicles from the road, elimi- nating the consumption of more than 33,000 gallons of gasoline, removing 315,000 pounds of burned coal from the atmosphere and eradi- cating 31 homes’ energy con- sumption,” Rivera added. n
WING, NJ — Levin Management Corpo- ration (LMC) has an-
nounced the complet ion of a rooftop solar panel installation p r o j e c t a t 1001 Spruce Office Cen- ter, the office component of
Robert Carson
Capitol Plaza in Ewing. LMC serves as managing and leas- ing agent for the 360,000 s/f Mercer County shopping center. The new rooftop solar pan- els at 1001 Spruce Office Cen- ter are designed to increase efficiency and reduce annual utility costs by supplementing the building’s electric power with a clean, alternative en- ergy source, according to Rob- ert Carson , LMC’s executive vice president. Along with its environmental benefits, the project generates SRECs (so- lar renewable energy credits) – financial incentives based on the amount of electricity a solar energy system produces. In NJ, an SREC is issued once a solar facility has generated 1,000 kWh (1MWh) through metered production. SRECs then can be sold on the SREC market, providing the system owner a reliable source of rev- enue to help offset the cost of installation. “In the few short months since this project has been up and running, the results have exceeded our expectations,” Carson said. “Along with the tremendous environmental benefits, we are now starting to monetize our investment by selling SRECs produced by the system’s electrical output. It’s a great example of why this project made financial sense in addition to being environmentally responsible, and is a positive investment in the shopping center’s fu- ture. Based on this experi- ence at Capitol Plaza, we are exploring additional solar opportunities throughout our portfolio.” Vanguard Energy Part- ners , a national solar con- struction firm designed, in- stalled and is operating the Capitol Plaza system. The system is comprised of 1,066 solar panels, each of which produces 325 watts of power, controlled by SolarEdge Opti- mizers and Inverters. “Simply
1001 Spruce Office Center roof comprised of 1,066 solar panels
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