The Sun Shines on Carnegie CenterDownload
BXP added four large solar photovoltaic (PV) parking canopy systems at 101, 302, 510 and 701 Carnegie Center in Princeton. Over 13,000 solar panels will generate 5.2 megawatts (MWs) of power, 70% of the total energy needed on an annual basis at the four buildings totaling 554,000 square feet.
Accelerating Solar Development with PPAs
The Carnegie Center Solar project was delivered in partnership with Ameresco under a power purchase agreement (PPA). Under the PPA contract, Ameresco designs, finances, builds, owns, operates and maintains the system. BXP agrees to host the system and purchase power generated by the system from Ameresco over the course of an initial 20 year term. Advantages of the PPA delivery model include no significant upfront costs to BXP, energy cost savings over the term and the ability to capture the indirect economic benefit of monetized federal tax credits. The solar canopy system at Carnegie Center has been designed to meet the highest standards for performance, safety, durability and aesthetics.
BXP worked closely with Ameresco and West Windsor Township through design development and permitting to implement solar canopy features commensurate with a Class A environment, including: water management, discreet siting of inverter/transformer equipment, clearances for the local fire department, powder-coated steel, high quality solar modules, integrated canopy lighting and a comprehensive landscaping plan.
The Benefits of Solar Covered Parking
The solar project at Carnegie Center is a triple bottom line success, a winner for people, planet and profit. The canopy system improves the customer experience by providing year-round covered parking for approximately 1,400 spaces. The 6.6 million kWh generated by the system annually avoids 4,600 metric tons of greenhouse gas emissions, which is equivalent to the removal of approximately 1,000 passenger vehicles from the road.
These customer and environmental benefits are realized without BXP capital expense. At a moderate rate of utility cost escalation, the PPA will save Carnegie Center customers $9.3 million over the initial 20 year term. The project exemplifies doing well by doing good.