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KEF Provides Financing for Rooftop Solar Installation in Central NJ

April 14, 2015, 07:25 AM
Filed Under: Energy

Key Equipment Finance announced it has financed a 488-kilowatt solar installation across the NPGS/NWGS/SLGS grocery chain in Central New Jersey. The solar installation across the rooftops of the three supermarkets is expected to generate $1.3 million in energy savings over its 25-year lifespan. The project is also supported by income from the sale of Solar Renewable Energy Certificates, which allow utilities to comply with state Renewable Portfolio Standards designed to encourage solar projects and sustainable energy solutions.

“Our supermarkets operate on a no-waste business model, and this should include the energy used to run the supermarket,” said Zeev Rothschild, owner of the NPGS/NWGS/SLGS grocery stores. “By working with our energy and finance partners to take advantage of tax incentives, we are now producing clean energy while reducing the electricity costs across our two stores in Lakewood and one in Jackson.”

The 488.52 kW installation of Yingli solar panels by Trinity Solar will generate 551,785 kilowatt hours annually, which equates to about one million pounds of carbon dioxide removed from the atmosphere or 366,390 gallons of water conserved.

“We are excited to bring solar energy to these three supermarkets, which are so integral to their local communities,” said Tom Pollock, president of Trinity Solar, a major retailer and installer of solar power systems in the northeastern United States. “By working as a team, we are able to harness free energy from the sun and demonstrate to other businesses how possible it is for them to do the same.”

“Custom financing solutions make projects like this grocery store rooftop installation possible,” said Doug Beebe, vice president, energy finance, for Key Equipment Finance. “We believe other businesses also can benefit from utilizing their rooftops for solar energy.”

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