Dow Jones & Company plans to install a 4.1-megawatt (MW) solar-power system at its corporate offices in central New Jersey. The system will be capable of supplying half of the 200-acre campus’s energy needs at peak performance, and on average, supply nearly 15 percent of the site’s energy needs.
The solar power system will consist of more than 13,000 solar panels covering nearly 230,000-sq.-ft. of parking space at the Bernard Kilgore Campus in South Brunswick. It will generate the equivalent of 5 million kilo-watt hours of electricity per year.
In addition to environmental benefits, the publisher of news and business information says the investment also will yield significant tax incentives and a substantial reduction in energy costs.
The system is expected to be one of the largest installations for solar power at a single commercial site in the U.S. It is also the largest commitment by parent company News Corp.’s Global Energy initiative for onsite renewable power to date.
Dow Jones did not disclose the estimated cost of the project, reports NJBIZ. The company said it will finance it in part through PSE&G’s Solar Loan Program. The project is expected to be completed some time in 2011.
The state of New Jersey, along with Pennsylvania and Florida, are gaining ground on California in terms of offering incentives and the adoption of solar power.
In other news related to Dow Jones, renewable energy and clean technology stocks are rebounding along with the Dow Jones Industrial average, which closed above 11,000 for the first time since the stock market started to decline about 18 months ago, reports the New York Times. This is despite shrinking subsidies and slowing government stimulus spending globally.