NJR Clean Energy Ventures
THE SUNLIGHT ADVANTAGE™ CELEBRATES ITS 1,000TH SOLAR LEASE CUSTOMER08/17/2012 - For Immediate Release
Wall Township, N.J. - When NJR Clean Energy Ventures (NJRCEV), a subsidiary of New Jersey Resources, launched The Sunlight Advantage™ as a pilot program in March 2010, the idea was to offer homeowners simple solar savings. The response since has been nothing less than astounding. In just a little over two years, NJRCEV has gone from a start-up to the second largest residential solar lease provider in the state. And, today, the company marked an important milestone with the addition of its 1,000th Sunlight Advantage customer.
The newest solar lease customer is Nora Pasquerella of Little Egg Harbor Township. Ms. Pasquerella had an 8.64 kilowatt (kW) system installed, which will produce approximately 10,600 kW hours per year, or the equivalent of approximately 95 percent of her current electric usage. It is expected that she will see an estimated savings of $159 a month on her electric utility bill. With a monthly lease payment of about $92, that equates to an annual net savings of more than $800.
“Our decision to go with The Sunlight Advantage was an easy one,” said Ms Pasquerella. “It will help me save money and is a simple way to get the benefits of renewable energy. They took care of everything. I could not be happier with the decision to get The Sunlight Advantage.”
“The response to The Sunlight Advantage has been incredible,” Laurence M. Downes, chairman and CEO of New Jersey Resources said. “We are honored Ms. Pasquerella has chosen The Sunlight Advantage, and we look forward to providing her with simple solar savings for years to come.”
“The addition of our 1,000th solar lease customer is a tremendous accomplishment,“ Downes continued. “It is a credit to the dedication and hard work of our entire team, and demonstrates how NJRCEV can innovate to help customers reduce energy costs, preserve our environment, strengthen the economy and support the state’s role as a clean energy leader.”
For the installation, NJRCEV worked with AllSeason Solar of Galloway, New Jersey to design a state-of-the-art, roof-top solar system for Ms. Pasquerella that best fits her needs and ensures maximum power output and efficiency. AllSeason is one of nine experienced channel partners that provide expert system design and installation, including all necessary permitting and utility hook-up work, and make it easy to save with The Sunlight Advantage.
“The Sunlight Advantage is the best solar lease program in the state, hands down,” said Chris DeMasi, owner of AllSeason Solar. “With no money down and no upfront costs, it’s easy for customers to get solar and save substantially on their electric costs.”
“Programs like this are great for New Jersey’s homeowners and great for New Jersey’s growing solar market,” DeMasi added. “Since we first began working with NJRCEV in 2011, we have completed nearly 150 solar installations as a part of The Sunlight Advantage lease program. Not only do customers love it, but it has also helped my business grow by 50 percent.”
The Sunlight Advantage makes renewable energy affordable and accessible to New Jersey homeowners by offering the installation of roof-top solar panels with no upfront, installation or maintenance costs and savings on their electric bills. With a 15-year fixed lease offering, homeowners with a typical 7.4 kW system can save approximately $120 per month on their electric bills based on current power prices, or $22,000 over the life of the lease.
Based on the typical installation, 1,000 Sunlight Advantage customers are expected to produce 8.6 million kilowatt hours annually; eliminating an estimated 5,919 metric tons of carbon equivalent emissions from the atmosphere annually or the equivalent of removing the carbon dioxide emissions produced by approximately 1,161 cars.
About New Jersey Resources
New Jersey Resources, a Fortune 1000 company, provides safe and reliable natural gas and renewable energy services, including transportation, distribution and asset management in states from the Gulf Coast to the New England regions, including the Mid-Continent region, the West Coast and Canada, while investing in and maintaining an extensive infrastructure to support future growth. With $3 billion in annual revenues, NJR safely and reliably operates and maintains 6,800 miles of natural gas transportation and distribution infrastructure to serve nearly half a million customers; develops and manages a diverse portfolio of 3.2 Bcf/day of firm transportation and over 62 Bcf of firm storage capacity; offers low carbon, clean energy solutions through its commercial and residential solar programs and provides appliance installation, repair and contract service to nearly 130,000 homes and businesses. Additionally, NJR holds investments in midstream assets through equity partnerships including Steckman Ridge and Iroquois. Through Conserve to Preserve®, NJR is helping customers save energy and money by promoting conservation and encouraging efficiency. For more information about NJR, visit www.njresources.com, “Like” us at facebook.com/NewJerseyNaturalGas or follow us on Twitter @NJNaturalGas.
Michael Kinney, Media
Dennis Puma, Investors