realestate

Luxury Skyscraper Gets Major Revamp with Innovative Upgrade

Cost-effective for consumers.

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New Jersey high-rise has undergone a significant transformation thanks to real estate developer LeFrak, which installed a 450-panel solar system on its roof. The 180-kilowatt system at "The Beach" offsets energy consumed by the building's common areas, including cooling and ventilation systems that are notorious for driving up electricity bills. Cooling and ventilation account for over 30% of commercial buildings' electricity usage, according to the Energy Information Administration.

    The $1 million solar system from Brooklyn-based Sunkeeper Solar is expected to offset 13% of the high-rise's carbon pollution, equivalent to removing 37 gas-powered vehicles off the road each year. "Solar makes sense on multi-family buildings, especially in Jersey City which is vulnerable to climate change impacts," said Doug O'Malley, director of Environment New Jersey. "Going solar saves consumers money, reduces air pollution, and creates a more resilient energy grid."

    The project should also benefit the developer by reducing building operating costs. A report from five years ago found that rising global temperatures are impacting New Jersey, with sea levels rising at a higher rate than in other parts of the world. The state's commercial fishing industry and tourism sector, which generate $100 million and $16 billion respectively, could be threatened if the marine ecosystem continues to degrade.

    Signing up for community solar can save households around $150 per year on their power bills, while installing rooftop panels can yield an even greater return.

High-rise skyscraper in downtown city receives major renovation with cutting-edge upgrades.