CAI-NJ June 2019 (w)

HOA/Condo Renewable Energy Solutions By Kari Valentine, CMCA, AMS, Associated Energy, President

© iStockphoto.com

L et’s face it; it’s not uncommon to think of renewable energy as some hippy, tree-hugging, unattractive structure that offers little in return. However, the renew- able energy industry has made considerable progress since its inception, and community associations can now take advantage of the resulting aesthetic and economic advancements. Every year during budget time, there isn’t a manager, nor a board member, who doesn’t get a knot in their stomachs just thinking about how they are going to meet their fiduciary responsibilities and not increase the fees by at least the cost of living. While not every community may be able to take advan- tage of this science, many can. It may surprise some to learn that, according to the Interstate Renewable Energy Council, New Jersey has the most growth potential for renewable energy, due to its pilot program of community solar. New Jersey is now positioned to be a national leader for community solar and energy storage expansion. The US Energy Information Administration, states that New Jersey is the fifth largest producer of electricity from solar energy. It is also the most densely populated state in the union, yet The Ways Renewable Energy Can Lower Costs and How the Association Can Make Money — Free!

manages to be in the lowest one-fourth of the power con- suming states per capita, which means that many in New Jersey have boarded the renewable energy train. In 1999 the state’s renewable portfolio standard began and was updated in 2018. This update requires tiered increases in renewable energy sources. By the year 2021, 21% of the electricity sold in the state is to come from approved renew- able sources. That percentage is mandated to increase in 2025 to 35% and again in 2030 to 50%. Historically, much of this solar has been utilized in com- mercial properties, municipalities, and privately-owned homes. However, with the updated legislation, it is possible for community associations to benefit from renewable ener- gy solutions through the state’s community solar initiative. There probably aren’t many, if any, communities that would relish the arduous task of repurposing land for solar production even at substantial reductions in their energy costs. Aesthetics are also important when considering alter- native solutions for your community. There are options on types of solar panels that are more aesthetically pleasing than others, but they do come at the cost of both solar pro- CONT I NU E S ON PAGE 26

24

J U N E , 2 0 1 9