In a move that will offset an estimated 75 million pounds of CO?, the Sheraton Meadowlands Hotel & Conference Center in New Jersey is installing a solar carport and has signed a 20-year, 1.1 Megawatt power-purchase-agreement to generate on-site solar electricity.
The Buccini/Pollin Group (BPG), the owner of the property, and Pollin/Miller Hospitality Strategies, Inc. (PMHS), the property manager, have partnered with DC-based solar project developer Distributed Sun. In the agreement, D-SUN will construct and operate a solar-powered carport facility. In return, the PPA rate schedule adjusts the price per kWh paid on-site until the additional expense is recovered for D-SUN’s financial services group, sunTWO.
Solar power from D-SUN will costs the Sheraton less per kilowatt hour generated than the electricity it currently buys from the grid, and under contract terms the property manager will see guarantee savings year-over-year, compounding for 20 years, according to the companies.
The solar system will be owned by Distributed Sun’s Solar Energy Investment Company (SEIC), sunTWO, and combines on-site power with architectural-grade, shaded parking, generating over 1.2 Gigawatt hours of electric power per year, and more than 40 Gigawatt hours over its lifetime.