Gloucester Marine Terminal has enlisted the help of SunPower to build North America’s largest rooftop solar installation on its refrigerated warehouse near the Walt Whitman Bridge in New Jersey. Construction of the 9MW system, situated on the banks of the Delaware River, is already underway and will be finished in autumn.
Comprised of 27,528 SunPower T5 roof tiles and spanning 1.1 million square feet, the development, titled Riverside Renewable Energy, will cost US$42 million and be nearly double the size of any other rooftop array in New Jersey. The system will cater for nearly 80% of the terminal’s power requirements.
“This US$42 million, privately funded project is a testament to the strength of New Jersey's solar market,” said Lee Solomon, president of the NJ Board of Public Utilities. “It is also consistent with the policy set forth in the recently released 2011 draft Energy Master Plan, which calls for photovoltaic solar arrays on commercial and industrial properties to lower their utility bills, improving competitiveness and reducing demands upon the electric grid.”
In terms of financing, the project will rely, in part, on the availability of federal Investment Tax Credits and the continued support of Solar Renewable Energy Credits (SRECs), with Rabobank taking charge of raising the remaining funds.
“Rabobank is pleased to dedicate our resources and expertise to support this important project,” said Ron Klein, managing director of Rabobank's Renewable Energy and Infrastructure Finance-Americas group. “This is a prime example of putting a previously unused asset, a rooftop, to work by hosting a renewable energy installation and bringing value to its owners.”