According to the company, it has reached a deal with Adler Development of Edison, New Jersey to lease space on top of four unoccupied buildings in the state for the generation of solar energy.
The $17 million project is intended to generate 3.9 megawatts of electricity while offering lower energy costs for tenants in the buildings.
"By maximizing underutilized space to provide clean, renewable energy in the state, we are effectively leveraging our expertise to help provide savings to our customers as well as meet our state's renewable energy goals, create jobs and grow our company," said NJR CEO Laurence Downes.
Distributed solar projects are often beneficial to companies because they are able to take advantage of government tax incentives and other benefits while using existing structures to host photovoltaic panels. This also helps cut down on costs involving land acquisition, permitting and other related tasks.
