New Energy Equity Energizes Solar Projects for New Jersey Schools

New Energy Equity (NEE), a solar contractor, says it has energized two solar projects for the Elizabeth Public School Board of Education in Elizabeth, N.J. 

NEE acquired the projects from New York developer HESP Solar during construction and will own and operate the systems for the next 15 years.

The systems are 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 their first year of operations.  

“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 and CEO of NEE. “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.”

Founded in 2013 and headquartered in Annapolis, Md., 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 200 MW since 2013. 

Photo: Roof-mounted solar panels atop Elizabeth High School.

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