Dow Jones & Company plans to construct a large-scale solar-power installation to generate clean energy for its corporate offices in central New Jersey.
At 4.1-megawatts (MW), the system will be one of the largest installations for solar power at a single commercial site in the US.
Nearly 2,000 staff work at the 200-acre campus in South Brunswic, New Jersey campus.
The investment is part of parent company News Corp.’s (NASDAQ: NWS) Global Energy Initiative and is its largest commitment to onsite renewable power to date.
Stephen Daintith, chief operating officer for Dow Jones said, “What makes this investment attractive is that not only are there meaningful environmental benefits but we also will see significant tax incentives and a substantial reduction in our annual energy costs.”
The design calls for more than 13,000 solar panels covering nearly 230,000 square feet of parking space. The system is expected to produce the equivalent of 5 million kilowatt-hours of electricity per year, energy to power the servers and computers that support the company’s global operations.
At peak performance, the solar installation will be capable of supplying half the entire facility’s energy needs. Over the course of the year, accounting for the hours when the sun isn’t bright or not shining at all, the system is expected to supply nearly 15% of those needs.
Dow Jones intends to finance the solar energy system in part through PSE&G’s Solar Loan Program.
Earlier this week, PepsiCo (NYSE: PEP) announced that it too will develop onsite renewable energy projects.
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