New Energy Equity (NEE) to Install Solar Panels for New Jersey Public Schools

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Feb 04, 2020, 09:00 ET

ANNAPOLIS, Md., Feb. 4, 2020 /PRNewswire/ -- Top solar contractor New Energy Equity ("NEE") is proud to announce that it has recently energized two new solar projects for the Elizabeth Public School Board of Education in Elizabeth, New Jersey. NEE acquired this project from New York developer, HESP Solar, during construction and will own and operate the systems for the next 15 years.

The system is composed of several roof-mounted systems atop Elizabeth High School and William F. Halloran School. The total system size between the two sites is approximately 1,470 kW, with Elizabeth High School hosting a 1,157 kW system and Halloran hosting a 313 kW system. The arrays are expected to produce over 1,800,000 kWh in year 1 – which is equivalent to serving 222 homes with electricity for one year.

"New Energy Equity is excited to support the Elizabeth school system in the installation of renewable energy sources that will achieve lower and predictable energy costs for years to come," says Matthew Hankey, President & CEO of New Energy Equity. "Not only will this initiative save funds that can instead be focused on education, but this initiative will also serve as a teaching model for students when it comes to environmental consciousness."

The project is a tremendous opportunity for the Elizabeth School System as it strives to reduce its carbon footprint in alliance with the Sustainable Jersey for Schools program initiatives and increase student and community engagement.

"On behalf of the Elizabeth Board of Education, I would like to thank New Energy Equity, HESP Solar and the Board's professionals from DeCotiis, FitzPatrick, Cole & Giblin, LLP and Gabel Associates for their dedication and outstanding efforts in making this energy savings project a reality for Elizabeth Public Schools," said Board of Education President Stephanie G. Pestana. "The anticipated energy savings created by the installed solar panels will allow us to reallocate funds typically earmarked for energy costs to other important areas of need, including classroom instruction and maintenance of facilities. This project is a win-win for the students and families of our schools as well as for Elizabeth residents whose contributions to our schools are highly valued and appreciated."

About New Energy Equity
Founded in 2013 and headquartered in Annapolis, Maryland, NEE develops and finances solar power generation assets, providing clean electricity to commercial, industrial, municipal and utility customers under long-term contracts. NEE successfully installed 60 MW of new solar capacity in 2018, part of an overall development portfolio of over 200MW since 2013. The company was ranked as the sixth largest developer on Solar Power World's "2019 Top Solar Contractors" list and was voted as the 13th fastest growing energy company in the United States by Inc. Magazine

For more information please visit New Energy Equity's website at www.newenergyequity.com. To stay up-to-date on current news, follow us on LinkedIn.

Media inquiries:
Patrice Nickols, New Energy Equity
T: (443) 972-5451 Ext. 1028
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Related Links http://www.newenergyequity.com

SOURCE New Energy Equity