Morris County Improvement Authority Selects Metro Energy Solutions as Energy Consultant for County-Wide Renewable Energy Program

December 11, 2008, Morristown, NJ - Metro Energy Solutions has announced it has been selected as the energy consultant for the Morris County Renewable Energy Program.  Under this unique program, Metro Energy Solutions will be the sole provider of consulting services to all of the participating local government entities in the county.  Metro Energy Solutions will be responsible for conducting the feasibility analysis at each site, along with the financial analysis for each project, the formulation of bid specifications, the administration of the public bidding process, assistance in the negotiation of the Power Purchase Agreements, and the project management of each project. Metro Energy Solutions will also be utilizing the services of Gabel Associates and the PMK Group, its partners on this project. 

The County of Morris, through the Morris County Improvement Authority (MCIA) announced a countywide Renewable Energy Program on December 11, 2008. The Program is being offered to all municipalities, public school districts, and local authorities and consists of having renewable energy sources such as solar panels installed on buildings or grounds of participating local government entities. Program participants will be able to partner with the County to go “green” by using renewable energy, reduce a portion of their retail electricity costs, and do so without incurring any out-of-pocket expense at the local level. This Program also fits into the New Jersey Energy Master Plan which calls for a goal of meeting 30% or more of the State’s electricity needs through the use of renewable energy by 2020. 

Solar energy may be the most viable and attractive renewable energy source initially, but other renewable energy sources like wind devices, hydropower, and geothermal could also be an option and will be considered where appropriate.  

Financing for this Program will be done through the MCIA, using the County’s AAA financial rating, in a manner that will have all debt issued through the Authority, guaranteed by the County, and all debt service payments will be absorbed by the Improvement Authority.  

The Program is designed to offer options and flexibility to those who choose to participate. For solar projects, there is a “private” model that has a third party, known as a Power Purchase Agreement Provider, own, operate, and maintain the equipment; and a “public” model that allows the participating local unit to retain ownership of the equipment and have operation and maintenance options. Each model has its own benefits.  

The “private” model allows for accelerated depreciation and the federal investment tax credit of up to 30% of capital cost to be included in the economics of a project. The “public” model allows for tax-exempt financing. Both models provide for electric cost savings, the sale of Solar Renewable Energy Certificates (SRECs) and net metering. In addition, there may be NJ Renewable Energy Rebates available for selected projects. Regardless of the model selected, there is real financial value to a solar energy project.

About Metro Energy Solutions

Metro Energy Solutions is a full service consulting, engineering and design build firm specializing in mechanical and electrical energy efficiency and cogeneration projects.  Metro Energy provides a wide range of customized services to meet the energy needs of clients in a variety of markets, including government buildings (State, County, and Municipal); K-12 schools; colleges and universities; health care facilities; water and waste-water treatment plants; apartment complexes; and the commercial and industrial sectors. For more information, visit Metro Energy Solutions at http://www.metroenergysolutions.com/