SECAUCUS, NJ–Hartz Mountain Industries has achieved a top-20 listing among commercial solar power users in the country, joining big-box names like Walmart Stores, Kohl’s and IKEA, according to a new industry report. If its office and industrial tenants were included, Hartz would be in the top 10 of solar users, at Number 9.
“As of October,” Hartz’s executive vice-president Lawrence Garb tells GlobeSt.com, “we have 16 rooftop solar arrays operational, all but two of them in Secaucus, installed on either big-box retail or industrial properties.” Hartz was ranked 19th nationally in a report from the Solar Energy Industry Association and the Vote Solar Initiative.
Hartz also operates the state’s largest solar “farm,” a ground installation opened last year in Hamilton. “We began looking at solar in earnest in 2008-2009, when state incentives and
federal tax credits were coming into play,” says Garb. “Hartz Mountain has a lot of flat roofs and Emanuel Stern (Hartz president and COO) wanted the company to move ahead with sustainable energy use and at the same time make the most of our roof real estate.”
Garb explains that there are two approaches for property owners: leasing roof space to a third party for a solar installation, or in-house construction. “We had the in-house resources to do these things ourselves,” he says. “Also, we are long-term owners for our real estate, and responsible to long-term tenants for anything that happens on the roof overhead.”
Since the market for solar energy credits has recently collapsed in New Jersey – supply is now outstripping the legislatively-set amount the power grid must use - Garb says the company’s retrofitting work is on hold for now. But Stern has made it clear that solar power remains a fundamental part of Hartz’s future construction plans.
“Solar power represents both a means to be kinder to the earth by reducing pollution and is a significant factor in reducing our operational expenses,” said Stern in a statement. “It is a key component to our sustainability efforts that benefits both Hartz Mountain Industries and our tenants.”
The commercial real estate development association NAIOP is hosting an Oct. 10 seminar for property owners on how to “re-energize” buildings at the Sheraton Edison. Panelists are set to make the business case for energy efficiency, as well as discussing the latest technology, incentive programs – and market information on renewable energy use.
Right now, Hartz’s solar farm in Hamilton is the largest free-standing solar installation in the state, producing 8.5 megawatts of power fed into the power grid. Hartz’s total solar portfolio produces 17.5 MW, annually generating enough electricity to power 2,400 homes.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.