NJ Future Forum 2012 Energizing Redevelopment Johnson
Renewables andRedevelopment:A Private Sector PerspectiveNew Jersey Future Redevelopment Forum March 9, 2012 Richard F.X. Johnson Matrix Development Group
Matrix Renewable Energy Solutions 7 rooftop locations, 3.6 million SF of roof area Approximately 23 megawatts (MW) total array capacity 9 MW direct to grid with PSE&G 14 MW on five rooftops serving 8 firms Typical structure: long-term rooftop lease, rental based upon power production SREC price risk to solar developer, not building ownersLessons learned: the roof is valuable asset; beware of“two chucks and a truck”; know where the moneycomes from
The Other Renewables:Energy Efficiency: Updating the Old with New Technology Inventory of Existing Buildings/Under Construction (source: Cushman & Wakefield 2nd Quarter 2011 Report Office: 183.3 million SF existing; 0.59 million SF under construction Industrial: 606.6 million SF existing: 0.92 million SF under construction Average cost of energy in an office building is approximately $2.80/SF/year; in a warehouse building approximately $0.50/SF/year. A 10% reduction in consumption would save approximately $82 million a year, creating about $820 MM in additional value Go to www.naiopnj.org/greensustainable for program descriptions
Renewing Embodied Energy:The State Strategic Plan meets The Energy Master Plan Embodied energy “The sum of energy inputs (fuels/power, materials, human resources, etc.) that was used in the work to make any product, from the point of extracting and refining materials, bringing it to market, and disposal/re- purposing of it.” The value of in place infrastructure, and the difficulty of financing new infrastructure The legacy of the single-use corporate campus – the urban exodus to Northern New Jersey in the 1970s and 1980s. Redevelopment as a cost-competitive, sustainable economic development strategy.