Certified Steel, Nexus Properties and SunPower Corp. have signed an agreement to build a 1.2 MW SunPower solar power system at the Certified Steel Co. facility in Hamilton, N.J.
The system, which is expected to be completed in July, will be the largest installation financed by Public Service Electric and Gas Co.'s (PSE&G) solar loan program to date, according to SunPower. The installation is expected to generate the equivalent of nearly 100% of the power required by the 330,000 square-foot full-line steel service center.
PSE&G pilot solar loan program allows PSE&G, the regional utility provider, to offer a loan to interested parties installing solar panels at their facilities. The loans can finance up to 60% of the cost of solar-panel installation. Under the agreement, Certified Steel will repay its loan with the renewable energy credits generated by the system.
SOURCE: SunPower Corp.Â Â Â