New Jersey, United States [RenewableEnergyWorld.com] Schering-Plough announced that it has completed a 1.7-megawatt solar energy system. With panels located atop seven buildings at the company’s Summit, New Jersey, site, the system is one of the largest photovoltaic rooftop installations in New Jersey and North America.
In addition to generating power, the project creates a Solar Renewable Energy Certificate (SREC), a tradable certificate representing all the clean energy benefits of the electricity generated from a solar electric system. PPL EnergyPlus, PPL’s trading and marketing subsidiary, purchases the SREC generated by this project as part of a coordinated effort to increase development of renewable energy projects.
“Three years ago Schering-Plough initiated a global strategic energy management initiative to build a foundation for an energy-efficient future,” said Fred Hassan, chairman and CEO of Schering-Plough. “This project is a major achievement of that initiative. It represents the achievement of three objectives – savings, sustainability and societal benefit – and significantly moves us closer to our goal of reducing energy use worldwide by as much as 10 percent by 2013.”