Deutsche Bank Completes 1,066 Panel Solar Array

Deutsche Bank, a leading global investment firm, recently finished installing a 250-kilowatt solar photovoltaic (PV) system at its Piscataway, NJ, office as part of its commitment to be carbon neutral by 2012.

The roof-mounted solar array consists of 1,066 solar panels generating about 270,000 kilowatt-hours per year of electricity. This is reportedly enough to provide all the electricity the facility needs during daylight hours (and, of course, on sunny days), and will offset 12-percent of the building’s yearly electricity needs.

The array will also prevent 194 metric tons of carbon dioxide being generated by Newark, New Jersey-based regional utility Public Service Electric and Gas, or PSEG, whose electricity generation mix (currently 55 percent gas, 20 percent coal, 9 percent coal, 14 percent nuclear and 2 percent misc.) has been greatly improved from the days it earned a spot on the “Dirty Dozen” list of utilities.

This 194 metric tons is the equivalent of removing 37 cars from the road each year, or planting about 5,000 seedlings and letting them grow for a decade, and represents a significant step towards Deutsche Bank’s 2010 zero-energy footprint.

Other measures in this direction include reducing annual energy usage by 19 million kilowatt-hours in North America and 54 million kilowatt-hours globally, either through energy-efficiency measures or the use of renewable energy technologies like solar.

In fact, in the U.S., United Kingdom, Italy, Switzerland and Germany, where Deutsche Bank has most of its operations, 100 percent of the energy comes from either renewable energy installations like that at Piscataway, or the purchase of 160,000 megawatt-hours of renewable energy from renewable generation facilities.

This forward-thinking approach to cutting carbon emissions led the U.S. Environmental Protection Agency, or EPA, to giving Deutsche Bank its 2009 Green Power Partner of the Year award.

At the 83,000 square-foot Piscataway site, installed by design-build solar firm Vanguard Energy Systems, another New Jersey native, an online energy monitoring system will calculate the amount of electricity produced, the facility’s consumption, and system efficiency.

Funding for the solar array came from the American Recovery and Reinvestment Act (2009) and New Jersey’s Clean Energy Program, which offers solar renewable energy credits, or SRECs, to encourage the development of solar energy. In 2010, these SRECs will trade from about $500 (in 2009) to about $660 (in 2010), paid on the basis of each megawatt-hour of solar electricity generated.

Author: Tom Staples

View All Articles

Posted in: Solar Trends

Tagged: , , , , ,

Leave a comment Comment Arrow

No comments yet

The comments are closed.