GeoGenix Hosts Event to Recognize Participants in 10-Home Community Solar Project at N.J. 55+ Adult Development

RUMSON, N.J., Jan. 11, 2011 /PRNewswire/ -- GeoGenix, an established industry leader in residential and commercial solar installations in the Mid-Atlantic region, today announced that the company will host an event at Somerset Run in Franklin Township, N.J., to celebrate the successful completion of a 10-home "community solar" project in the Somerset County 55+ adult development.  

The ceremony, which will also honor the residents who have participated in the initiative, will be held on Jan. 19 at 10:30 a.m. in the development's clubhouse at 101 Stone Manor Drive.

Franklin Township Mayor Levine's office will present the families who have elected to invest in the roof-mounted solar installations with commendations for their dedication to the environment and to the state's progressive renewable energy goals.

Originating in California, and now being pioneered in New Jersey by GeoGenix, "community solar" is a strategy that allows residents of a community to band together to purchase solar for their individual homes at a discounted price. The discount is made possible by operational efficiencies, such as the streamlining of the permitting process and the deployment of installation crews.

The community solar discounts, along with generous state and federal incentives, make solar a very attractive investment, especially for seniors whose retirement nest eggs are typically invested in "safe" investment vehicles, such as certificates of deposit (CDs), which are now yielding low returns.

"While helping the environment was a major consideration in deciding to go solar, the return on our investment was really the deciding factor," said Allen Delevett who, with his wife Celia Hills, was the first homeowner in Somerset Run to go solar. "The systems installed in our community will each have a simple payback of less than five years, and, frankly, we see solar as a far more attractive, and safer, investment than the stock market or CDs.

The systems will generate free electricity for at least 25 years and will also generate valuable SREC (Solar Renewable Energy Certificate) income. An SREC, which is a state renewable energy incentive based on the amount of electricity generated by the solar system, is earned each time a system generates 1,000 kilowatt-hours of electricity. SRECs, which represent an environmental benefit, are tradable certificates.  

New Jersey Assemblyman Upendra J. Chivukula, who is the chairman of the Assembly's Energy Committee and the originator of many of the state's robust renewable energy initiatives, will also be in attendance at the event in support of the community solar project.

"It is intensely satisfying to see these grassroots solar initiatives in which, in this case, seniors join together to reap the financial and environmental rewards that solar brings to a household and a neighborhood," said Chivukula. "Community solar projects are a great complement to my work in the statehouse. I hope to see this trend continue as it brings great efficiencies to the solar installation process, essentially making a green practice even greener."

"Between generous state and federal incentives and the volume discounts we offer through our community solar program, installing a solar system in your home is an excellent investment," said Gaurav Naik, managing member of GeoGenix. "We make it as easy as possible for the homeowner every step of the way, from design and installation to setting up the SREC account."

The 10 homes that comprise this project total 80 kilowatts (kW) of generating capacity and are expected to produce nearly 100,000 kilowatt-hours of electricity annually.  This carbon footprint reduction eliminates the production of more than 150,000 pounds of CO2, which is the equivalent of reducing the amount of miles driven in a car by 189,000. CO2 is among the harmful greenhouse gases that contribute to air pollution and to global warming.

About GeoGenix

GeoGenix is an industry leader with a proven track record in residential and commercial solar installations. The firm's many achievements include the first "Net Zero" electric commercial building in the nation. While there are many new entrants in the solar business, GeoGenix has been installing solar since 2001 and has the experience, expertise and track record that have made it the state's most trusted solar installer. For more information, visit the GeoGenix website at www.geogenix.com.

SOURCE GeoGenix