Who’s on the Job?
Six Flags Great Adventure is partnering with KDC Solar LLC to build a 23.5 MW solar photovoltaic system. This system will be the largest net metering solar installation in the state. The project will install solar carports over selected parking lots and 40 acres of ground mounted solar panels. The system will produce 30 million kWh of clean electricity in one year. This is enough to power everything in the park all year!
This investment will lead to many financial benefits for Six Flags. Although the project is expensive, Seminole Financial Services is providing debt financing for the project through a construction and permanent loan facility. Additionally, development capital and project equity were arranged by GoldenSet Capital Partners. The park is also excited for the social impact of this project, which is equivalent to providing energy for almost 3,000 homes and getting over 100,000 cars off the road!
Net Metered Solar Systems
Within the last few years, net metered solar panel arrays have been on the rise across the nation. Net metered solar panel arrays are being installed on schools, businesses and even private homes. Net metering is simply a mechanism that offers credit to customers who produce more energy than they are using. You can even see your meter go down as you are only charged for the “net” energy used each month. This is why many states are implementing programs to encourage net metering, but are capping the size of the system you may own.
New Jersey is one of the few states that doesn’t have a cap on net metering programs. This means that the energy plant can be as large as the source needs it to be. Six Flags Great Adventure, located in Jackson NJ, is taking advantage of these laws and making huge energy strides!
Why Intersect Energy?
We at Intersect Energy are here to keep you updated on all of your renewable energy news! We focus on commercial and industrial solar energy development projects in New Jersey, New York and Massachusetts. We offer innovative solutions to facility upgrades when paired with a new solar project, at little to no capital cost to our clients. To learn more, follow us on LinkedIn!