New Jersey Transit will create one of the largest solar power installations in the state to produce renewable source electricity at its locomotive and railroad car maintenance facility in Kearny.
Supporting New Jersey’s clean air and energy policy goals, the solar power system will reduce NJ Transit utility bills by $90,000 per year. No up-front capital funding will be needed. A $1.57 million New Jersey Board of Public Utilities rebate will support construction costs.
Alternity Power, in a contract with NJ Transit, will finance, design and install a photovoltaic solar-power system and operate and maintain the system for 20 years. Under the proposed contract, NJ Transit will purchase the power generated by the solar panels for $.01 per kWh at about one-twelfth the current rate.
The system is scheduled for completion in the summer of 2008.