NEWARK, N.J., Feb. 16, 2021 /PRNewswire/ -- Genie Solar
Energy, a developer, designer and installer of commercial solar
systems, has completed an innovative rooftop solar installation for
Kraft Power, a provider of generator and cogeneration systems.
Kraft Power's 57.5 kW custom rooftop solar system was installed
at its distribution center in Pompton
Plains, NJ. It will supply Kraft with clean
electricity sufficient to offset the equivalent CO2 emissions
generated by burning over 447,960 pounds of coal, 1,008,804 miles
driven by combustion powered cars or 46 houses per year for the
next 25 years.
"Kraft Power is elated that, with the completion of this
project, we are able to offset up to 100% of our average
electricity consumption with electricity generated by American-made
solar panels," said Owen Duffy, CEO
of Kraft Power. "As a provider of on-site critical power
systems to our clients' facilities, we continue to lead by example
through the expansion of our solar program. With the solar
arrays now in place at our New
Jersey location, we have taken another big step to reduce
our consumption of utility-generated power while substantially
cutting electricity costs."
Kraft Power supplies on-site power systems to hospitals,
factories, communications, and other facilities that require
reliable energy generation. The company also provides highly
efficient cogeneration solutions. Many of these systems convert
renewable biogas waste into clean energy.
"We are delighted to have designed, built and installed this
successful project for Kraft Power, one of the leaders in its
field," said Genie Solar's Managing
Director, Sara Schwandt. "We
designed this project to maximize the return on investment to Kraft
Power over the project lifetime utilizing solar panels made in
America. Since completion, our system's performance has
exceeded expectations, further enhancing the project
economics."
Schwandt added, "We deliver tailor-made strategic energy plans
and installations to maximize value for our clients whether their
priorities are greater energy efficiency or cleaner and greener
solutions. We also help clients finance, lease and buy solar
generation systems while maximizing the value of grants and other
incentives."
About Genie Solar Energy:
Genie Solar Energy is a subsidiary of Genie Energy
Ltd., (NYSE: GNE). Genie Solar Energy develops, designs
and installs solar generation projects for commercial clients
nationwide. Every system is designed specifically to maximize
the return on investment available at the site, while leveraging
all available governmental incentives and credits.
About Genie Energy:
Genie Energy Ltd. (NYSE: GNE,
GNEPRA), is a global provider of energy services. The Genie
Retail Energy division supplies electricity, including electricity
from renewable resources, and natural gas to residential and small
business customers in the United
States. The Genie Retail Energy International division
supplies customers in Europe and
Asia. The Genie Energy Services division includes Diversegy,
a commercial and industrial brokerage and consultative services
company, and Genie Solar Energy and Prism Solar, which design,
supply and install commercial and residential solar solutions. For
more information, visit Genie.com.
About Kraft Power:
Kraft Power was founded in 1965 in
Boston, Massachusetts.
Initially named "W. A. Kraft Corp", the company distributed and
serviced industrial engines, transmissions, and clutches. We
designed and manufactured engine-generator systems, and were among
the pioneers of "Total Energy" (now known as Combined Heat and
Power) power plants, as well as of emergency generator systems and
service programs. Early projects included on-site power
systems supplied to facilities such as the World Trade Center,
Federal Reserve Bank, the Statue of Liberty, and Yankees Stadium in
New York, as well as many
hospitals, factories, communications, and municipal projects that
require reliable energy. Today Kraft Power operates nine sales and
service facilities in eight states, with a staff of over 170
professionals dedicated to service excellence.
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SOURCE Genie Energy Ltd.