NJR Clean Energy Ventures (NJRCEV), the unregulated clean energy subsidiary of New Jersey Resources (NYSE:NJR), has completed the solar installation at the Woolwich Township Municipal Building in Gloucester County, N.J. The 308-kW solar array will provide power to the municipal complex, including the local police department.
The solar system consists of 1,100 ground-mounted solar panels and will produce approximately 414,000-kW hours of electricity annually, NJRCEV said, reducing carbon dioxide emissions by more than 300 tons.
Under a 15-year power purchase agreement NJRCEV will own, operate and maintain the solar system at no cost to the municipality or its residents.
The project qualifies for a 30 percent federal investment tax credit and is eligible for Solar Renewable Energy Certificates that can be sold to New Jersey utilities to meet renewable energy requirements.
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