Toys R Us is one of the US’s biggest toy retailers and operates 840 stores in the US and 716 in the 34 other countries. By anyone’s definition it’s a big player. And it's about to get the biggest solar rooftop in the country. This summer in a BOOT( Build-Own –Operate-Transfer scheme )which means it doesn’t need to put the capital up front, the Wayne based retailer is planning to switch on solar energy systems at two New Jersey properties.
New Jersey companies have had a rapid uptake of solar based on state and federal grants which have encouraged businesses to do so. These incentives seem to be working well.
For the Flanders installation, in which solar panels will cover 70 percent of the distribution center's 1,281,000-square-foot roof, Toys is partnering with two energy companies -- Energy Conversion Devices and Constellation Energy. Constellation will build, own and maintain the rooftop system, and Toys will buy the electricity generated by the system through a 20-year power purchase agreement.
Toys "R" Us will not incur any upfront installation costs for the solar systems which makes it very attractive indeed..
The 5.38 megawatt system will generate 72 percent of the electricity needed to operate the 1.5 million-square-foot distribution center. It is estimated that it will also save the company an estimated $366,000 a year in utility costs in Flanders. The likely cumulative over 20 years is said to be of the order of savings of $7 million. What’s not to love about this deal? Suddenly useless and unattractive rooftop space looks to be a very real income earner , with no upfront costs.
The toy company also is installing rooftop solar panels at its superstore in Secaucus, a building that houses side-by-side Babies "R" Us and Toys "R" Us stores. That system is being installed in partnership with Hartz Solar, which is a subsidiary of real estate developer Hartz Mountain Industries of Secaucus.
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