The panels are installed and Harmon Cove in Secaucus New Jersey is going solar! The Harmon Cove Condo Rec Association recently partnered with JD Solar to help reduce energy bills by installing solar.
We recently installed a 20 kilowatt system on the Clubhouse which is their main building as well as a 6 kW system on the Cove Club which is their restaurant and bar. If you haven’t yet please check out our Drone video above to see more. We are in the final stages of activation with PSE&G and we estimate these two systems will save about $7,500 on electric bills annually. This estimate is based on historic electric rates factored in with solar production while looking at 30 years of historical weather patterns.
Additionally since the Rec Association purchased the systems outright they can earn and sell solar renewable energy credits or SREC’s. The systems will produce 29-30 SRECs and credits are sold through online portals and trade at $220 a credit as of 11/3/16. SREC prices fluctuate based on market conditions but in New Jersey as a system owner you can sell SREC’s for 15 years. Between the credits and the electric savings these systems will likely pay for themselves in about 5-6 years; they are designed to last for decades.
Ultimately these systems will save the association thousands year after year and that helps everyone who lives at Harmon Cove! Aside from being smart for the bank account these systems are smart for the planet. Over 25 years these systems will reduce CO2 emmisions by 581 tons. That’s the carbon savings equivalent of planting 10 acres of trees!
Thank you so much for partnering and if anyone is interested in solar for their condo association please click here to Contact us and lets get started!