How can the NJ TREC solar program fund your new roof replacement?
Updated: Oct 6, 2020
The current NJ TREC Solar program can provide significant capital to completely offset roof replacement or repair costs. Many clients have been deterred from installing solar due to concerns regarding roof condition or warranty. Now, any client can use the TREC program to provide both energy cost reduction and the necessary capital to address any roof improvements.
When considering the opportunity to retrofit a solar installation on any existing commercial/industrial rooftop, one of the first consideration should be the condition of the roof. The goal should be to install solar on rooftops that have at least 15 years of useful life, or even better that have 15 years of warranty left on the roof. Since the term of a Power Purchasing Agreement (PPA) is 15 years, it’s recommended for the building owner to completely de-risk the project by aligning the terms of the PPA with the roof warranty. Brightcore assists many clients secure warranty extensions from the roof manufacturer to achieve a 15 year coverage.
The best scenarios exist if a client has a new roof (less than 5 years old) or has an old roof that is targeted for replacement. The robust TREC incentive of 15.2c per kWh provides significant leverage over a 15 year lease to deliver +$3M of capital in a typical 100k sq ft property. That $3M of capital can be used to completely replace the existing roof before installing the new solar panels. Both scenarios set up the same outcome; an extremely long roof life extended by solar protection from the sun and elements.
Contact Brightcore Energy to quickly get to a layout and indicative economics for a solar solution for rooftop or parking canopy.
The current program last until 12/31/20 with complete construction by 11/20/21.
Click here for more frequently asked questions about the NJ TREC Solar Program.