Oxford Solar Files 500 kW Rebate in New Jersey

In the first step of a long-term plan to help save the environment and cut down the use of high-cost utilities by converting to renewable energy, Oxford Solar has filed the rebate application with New Jersey Board of Public Utilities on behalf of Vernon Township Board of Education.

The project involves the installation of a 500 kilowatt (kW) rooftop photovoltaic (PV) system in two phases (250 kW in 2006, 250 kW in 2007). Oxford Solar will provide engineering, materials and equipment required to complete the project, including permitting and the preparation of plans and drawings. A 500 kW solar electric system produces approximately 525,000 kilowatt-hour (kWh) per year. Using recent market prices for Solar Renewable Energy Certificates (RECs) of $0.18/kWh, this system’s RECs would bring $94,500 in revenue plus $63,000 in utility savings. “New Jersey has one of the highest rebate programs for public and non-profit solar electric systems in the nation,” said Marc Redgate, president of Oxford Solar Eastern Division, a professional solar PV installer certified by the North American Board of Certified Energy Practitioners (NABCEP). “New Jersey schools and other educational centers are realizing that these generous rebates make the systems affordable, and substantial energy production helps reduce overall energy expenses,” he added.
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