Cranford-based Signature Acquisitions on Tuesday said it completed the installation of a 3.75-megawatt solar energy system covering 207,469 square feet of roof space across 16 buildings throughout its expansive portfolio of Class A office buildings in New Jersey.
Signature, one of the region’s most active and prestigious owner/managers of Class A suburban office space, said the project is further testament to the firm’s commitment to sustainability as well as its focus on providing its tenants with substantial utility savings.
Begun in 2021 under the management of Greenpower Developers LLC, a privately held, full-service commercial solar energy company based in Wall Township, it is estimated that the solar panels will prevent over 228 million pounds of CO2 from entering the atmosphere throughout their 35-year lifespans, the equivalent sequestration value of nearly 6 million trees, or the removal of 22,335 cars from the road. The panels now cover all “solar suitable” roof area, totaling 37% of the overall roof area on 16 of the company’s buildings.
Beyond the environmental savings, the panels will also generate a total of 4,536-megawatt-hours within their first year of operation. For reference, one MWh is about equivalent to the amount of electricity used by 330 homes for one hour, according to the EPA. Over the next 35 years, the solar panels will produce over 145,000 MWh, equivalent to the energy needed to power nearly 48 million homes for an hour.
“As an owner of over 5 million square feet of office buildings across New Jersey and New York, we recognize that we are in a tremendous position to continue to help the real estate industry become greener,” Sandy Monaghan, senior vice president, director of leasing at Signature Acquisitions, stated. “We are proud to have completed this ambitious initiative to make our buildings more sustainable while also promising our tenants significant long-term cost savings.”