Simon Property Group, Inc., retail real estate company, has completed the installation of solar panels at its Jersey Shore Premium Outlets in. Tinton Falls, NJ., in conjunction with Chicago-based SoCore Energy. The 335-kilowatt system, which consists of more than 1,300 panels, will generate enough energy to power approximately 30 homes for one full year.
Construction on the solar facility began in October, 2012 and was completed without disruption to the center’s 120 merchants. The resulting solar array now covers 70 percent of Building 8 at the shopping center.
“Jersey Shore Premium Outlets is proud to be among the first Simon centers to use solar panels to decrease both its carbon footprint and its energy costs,” said Chris Cobb, general manager of Jersey Shore Premium Outlets. “It is also important to us to be a leader in this effort in our community.”
“This is an exciting project that is an important step in our efforts to develop cost-effective and scalable renewable energy projects,” said George Caraghiaur, senior vice president of sustainability at Simon. “This wholly-owned installation will enable us to gain first hand experience in owning and operating such facilities.”
Pete Kadens, president of SoCore Energy, complimented Simon’s “commitment to buy and build a solar facility,” adding that it is “a testament not only to their sustainable practices but also to U.S. manufactured product, as . In excess of overmore than 90 % percent of the product used in the installation was U.S. manufactured.”
Simon’s commitment to sustainability is well- established. The company focuses on energy efficiency as a core sustainability strategy. Through the continued use of energy conservation practices, energy efficiency projects, and continuous monitoring and reporting, Simon has reduced energy consumption at comparable properties every year since 2003. As a result, excluding new development and expansions, the company reduced the electricity usage over which it had direct control by 374 million kWhs between 2003 and 2011. This represents a 29 percent reduction in electricity usage across a portfolio of comparable properties and reflects significant operating savings. Simon’s documented reduction in greenhouse gas emissions resulting from its energy management efforts is 229,000 metric tons CO2e for purchased energy.
In 2012, Simon was awarded NAREIT’s Leader in the Light Award for the eighth consecutive year. Simon is the only company to have achieved the Leader in the Light distinction every single year since NAREIT launched the program in 2005. Simon was included in the 2012 Carbon Disclosure Leadership Index published by the Carbon Disclosure Project for its transparency in environmental impact reporting. The company was the only REIT to earn a place on the index.
Simon Property Group
www.simon.com
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