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HERE COMES THE SUN

HERE COMES THE SUN
Heller Industrial Park
Heller Industrial Parks (HIP) is not a company to waste an inch of space. With 16M SF of industrial properties across six states, particularly in New Jersey, there’s plenty of opportunity to put rooftops to good use and promote renewable energy. We spoke to VP and chief engineer John Porcek, who tells us the firm is well on its way to adding solar panels to 75% of its portfolio. This includes a $2.7M, 564 kW system at 16-20 Executive Ave in Edison, and a $23M, 4.5 MW system (one of the largest in NJ) being installed at 1 Industrial Rd in South Brunswick. The company began looking at solar power when the federal government gave a 30% rebate on installations (it's just like us with Groupon), which finally allowed it to make financial sense, he says. Over the next five years, it plans to install 35 MW worth of systems on 45 buildings.
New Jersey Industrial
This Google Maps satellite image shows the expanse of rooftops in NJ’s industrial market (HIP’s Edison property is in the center). After installing the solar panels, HIP is able to sell electricity at a discounted rate to its tenants, John says. This is especially desirable to tenants with high electrical needs, like food distributors that use lots of refrigeration. The ability to sell solar renewable energy certificates on the open market is also attractive. Much of this couldn’t have been done without the state’s support, John says—it’s a huge proponent of renewable energy, making solar installation more viable than in other states where HIP owns properties (Pennsylvania, Illinois, Indiana, Texas, and Kentucky). “New Jersey’s on the forefront. Other states have tried, but haven’t come close.” Heller also recently retrofitted 4M SF of its buildings with more energy efficient T8 fluorescent lighting, with eventual plans to retrofit the entire portfolio.
WASHINGTON DC 05.08.2017

MONTGOMERY COUNTY STATE OF THE MARKET

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