Verizon devotes $13M to solar projects in New Jersey

Verizon (NYSE: VZ) has made more progress with its on-site green energy program, announcing that it will invest over $13 million to expand three of its locations in New Jersey.

The telco said it will install 3.5 megawatts of new solar systems at its facilities in Carteret, Freehold and Piscataway. During the next two months it will begin installation of these systems, with the project set to be completed by the end of this year.

In New Jersey, Verizon has invested over $34 million in its on-site green energy program.

When it completes the new solar projects, the telco said it will operate about 7 megawatts of green energy systems in the state. Overall, the systems will produce more than 23 million kilowatt hours of green energy.

New Jersey is just one of several states where it is conducting such green energy projects. This year the service provider is investing $100 million on solar and fuel-cell energy projects that will enable it to power 19 of its network facilities located in seven states, while reducing their carbon footprint.  

According to the Solar Energy Industries Association, the U.S. trade association for companies that research, manufacture, distribute, finance and build solar projects domestically and abroad, Verizon is on track to become the No. 1 solar power producer among all U.S. communications companies.

"Based on its existing solar power capacity and on-site generating systems, combined with its new solar energy expansion plans for 2014, it's clear that Verizon is on a path to become the solar power leader in the U.S. telecom industry," said SEIA President and CEO Rhone Resch. "In fact, we project that Verizon will be among the top 20 of all companies nationwide in terms of the number of solar installations it operates, and one of the top 10 companies in the U.S. based on solar generating capacity."

For more:
- see the release

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