New Jersey will soon have the largest rooftop solar power plant in North America…again. The plant, known as Riverside Renewable Energy (RRE), is located atop the Gloucester Marine Terminal’s refrigerated warehouse on the Delaware River. This isn’t the only time we’ve heard of solar rooftop power being laid down down in this state, but it certainly looks to be the most impressive plan to date, even dwarfing this 17,700+ panel project we wrote about a few months back.
The RRE costs $42 million and will cover 1.1 million square feet atop the terminal. The 9 megawatt project will contain 27,528 photovoltaic rooftop solar panels and generate enough energy at capacity to power the equivalent of 1,500 homes. Despite the size, only 80 percent of the terminal’s energy demands will be met by the panels, though it will still offset 9,500 tons of carbon dioxide, which is roughly equivalent to planting 400,000 trees.
RRE is a joint venture between the Holt Family, who owns the Gloucester Marine Terminal, and Sun Power. Sun Power is supplying the T5 Solar Roof Tile system. It combines solar panels, frame and mounting system into a single, pre-engineered unit.
Financing is being led by Rabobank, a global bank and financier of renewable energy projects. The project will also rely in part upon “federal Investment Tax Credits that supply tax incentives to spur the development of green energy sources systems nationwide; and the continued support of Solar Renewable Energy Credits (SRECs) created through the New Jersey Renewable Portfolio Standards (RPS), which also enhances the economic viability of the project. Riverside will sell the SRECs and environmental benefits associated with the system.”
Construction is said to be underway and should reportedly be completed by the fall.