Princeton University has initiated plans to build the largest PV installation on any college campus by 2012. According to the plans, they expect to partially power the campus for the next 50 years with the help of the mass PV installation.
16,500 PV panels will be included in the photovoltaic collector field that will feature a 5.3-megawatt system. Once activated, the installation is likely to reduce the energy costs of the campus by 8 percent as it will generate 5.5 percent of the campus’ electrical power.
They have claimed that the installation is capable of meeting up to 20 percent of the campus’ power needs, but on super sunny days. The 5.5 percent is an average figure for a whole year. The university will build the solar collector field on 27 acres that it owns in West Windsor Township.
When the financial side is considered, Princeton University is expected to have advantage from New Jersey’s Solar Renewable Energy Certificate program. Until 2020, for every 1000 of kilowatt hours produced, the state will give Princeton one SREC.
It will then help the university to partially cover their costs as they’ll be able to sell the credit to the local utility.
They’ll also get financial aids from the American Recovery and Reinvestment Act and President Obama’s stimulus bill that he passed during the early period of his tenure.