To find at least part of the energy future of New Jersey, and perhaps the United States, an observer need look no further than Stafford Park. Currently rising in the coastal town of Stafford, the mixed-use development will feature one of the largest solar farms in the state, a 6.5-megawatt array that will produce 800 kilowatts of electricity. The LEED-certified development also includes 650,000 square feet of retail space, 112 affordable apartments, 216 market-rate units and 349 houses. Most of that space will receive its energy from photovoltaic cells. The project’s developer, the Walters Group, intends to provide power to a majority of the development, including the retail space, from the solar farm.
Among the tenants that have committed to Stafford Park’s retail component, which can grow by another 250,000 square feet, is Target. “We have a good chance of providing Target with 100% of its electricity, and we’re looking to connect the apartments to receive 100% of their energy from solar, including all the heating and cooling,” says Edward Walters Jr., founder and partner of the Barnegat-based Walters Group. “It probably will be the first apartment complex in the country that can say all of its electricity, heating and cooling come from solar.”
Even more significant than the amount of energy to be produced by the array is the project’s location: the farm occupies part of the capped Stafford Park landfill, providing a new opportunity for extending New Jersey’s reputation as an environmental leader.
While it’s not the Sunshine State (that’s Florida) or the Golden State (California), New Jersey’s new nickname easily could be the Solar State, since it ranks number one in solar installations per capita, by many counts. On the surface, it may not be the most likely candidate: New Jersey is some 166 miles long from north to south and its widest point is 65 miles, making it the fifth smallest state in terms of land area. Furthermore, the state’s weather is variable, at best, with an average of four hours of sunshine a day. Yet a combination of state requirements, federal and state incentives and financing vehicles have spurred its leadership in the development of solar energy...
...To read the rest of the story, go to the May 2011 issue of Real Estate Forum.
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