Through Solar 4 All, which includes the first pole-attached solar panel initiative in the world, PSE&G is in the process of owning and operating 80 megawatts-dc of solar capacity in New Jersey by 2012. This capacity consists of solar farms on PSE&G owned properties and on sites owned by others including installations in Urban Enterprise Zones (UEZs) and well as smart solar units on utility poles. All installed solar capacity is tied into PSE&G’s electric distribution network providing universal access to solar energy to all PSE&G electric customers. The $515 million Solar 4 All investment program is in the creative use of assets PSE&G already owns and the leveraging of its existing relationships to find the space needed to install hundreds of thousands of solar panels.
PSE&G solar projects have proven to be a job engines for New Jersey. Estimates put the number of direct jobs already created by the Solar 4 All and Solar Loan projects in New Jersey at almost 1200 and by the time the two initiatives wrap up, we expect to create more than 2000 total jobs related to solar construction and maintenance. From solar installer to financial analyst and from electrician to office worker, the PSE&G solar projects have helped generate a wide range of jobs in a number of disciplines. Another goal is to spur economic development in the state. PSE&G helps to meet this objectives by utilizing New Jersey businesses whenever possible to help accomplish our solar goals. The Solar 4 All program has spent more than $277 million with 13 primary vendors and numerous subcontractors in New Jersey. These firms have helped build the more than 58 megawatts of Solar 4 All capacity that is now in service along the way they created good jobs for many state residents while also making New Jersey a national center for renewable energy.
This past September, Saint Peter’s Healthcare System in New Brunswick, NJ announced that they will build a combined 2.1 megawatt solar system at various sites in-and-around New Brunswick. The solar project, which is the largest by a New Jersey hospital to date, is being financed in part by the PSE&G Solar Loan Program. The solar system is expected to save Saint Peter’s approximately $10 million in electricity costs over the next 25 years. The Saint Peter’s Healthcare System solar project follows $4.6 million in energy efficiency improvements that were implemented at Saint Peter’s Hospital through the PSE&G Hospital Efficiency Program. Following an extensive investment-grade audit at Saint Peter’s Hospital, a number of energy conservation measures were recommended, including major upgrades to the cooling plant including the cooling tower, chiller and building management systems, high efficiency motors and burners in the heating plant and energy efficient light controls. The measures will save the hospital more than $500,000 per year in energy costs. The PSE&G Hospital Energy Efficiency Program will pay for just about 70 percent of the upgrades, with Saint Peter’s Healthcare System repaying the remaining amount over 36 months from energy savings that are realized.
Transcript of "NJ Future Forum 2012 Energizing Redevelopment Matos"
NJF Redevelopment Forum Al MatosVice President - Renewables and Energy Solutions, PSE&G March 9, 2012 Financial Managers Learning Forum PSE&G Kearny Landfill results. Farm 1 We turn expertise into Solar
Solar 4 All™ Approved by NJBPU in 2009 80MW program : Segment 1: on roofs and land Segment 2: on utility poles 2
PSE&G Solar Projects Create Good Jobs for NJ ~ 1200 jobs through Solar 4 All and Solar Loan programs to date ~About 800 more by the time both programs are complete 3
Solar 4 All Third Party Sites Solar 4 All leases help third parties unlock the value in unused land and roofs Several projects in service: Matrix Development Group; Rider University; Newark Public Schools 4
Turning Landfills and Brownfields Green One landfill and three brownfield solar farms in service = 9.5MW will power ~1500 average size homes Additional brownfield site in Trenton, NJ development in Hackensack Linden, NJ NJMC 1A Landfill Kearny, NJ Edison, NJ 5
How Solar 4 All Could Help Municipalities PSE&G plans to seek authorization from the New Jersey Board of Public Utilities (BPU) for an extension to our existing Solar 4 All program The extension will have several new parts including a 65 MW segment NJ Trenton, focused on municipal, county and state government entities (including authorities such as Improvement Authorities. Benefit to the Municipality/Government Entity PSE&G will make lease payments to the municipality/government entity for 20 years based on market rates. Each of these solar projects will be “grid connected” in that electricity generated by each solar project will flow directly to the power grid. This eliminates the constraint on a projects size that can occur with a “net- metered” project. By entering into a solar lease agreement with PSE&G, municipalities and other government entities can provide another revenue stream to help tight budgets. 6
Success Story: Saint Peter’s Healthcare System Saint Peter’s 2.1MW combined solar system is largest at a NJ hospital Project is financed in part by the PSE&G Solar Loan Program Saint Peter’s also participated in our Hospital Efficiency Program. Total PSE&G investment through solar and EE programs was ~ $10MM Saint Peter’s will save $1MM/ year in energy costs x next 25 years 7
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