CAI-NJ June 2019 (w)

RENEWABLE ENERGY... from page 27.

have presented themselves as a more appealing community, because they can offer cost savings on electricity. As of the writing of this article, commu- nity solar in NJ is still in its beta testing so there may be some adjustments to this legislation. When planning on your reroofing

project you may want to consider adding solar, which can benefit the association and the homeowners. All the major roofing manufacturers are creating a solar panel that can be installed with their shingles. Most of these panels are designed to blend with the roofs, rather than stand out as you see on roofs that are installed “aftermarket.” Battery back-up could also be added to this project. Moreover, as virtually every car manu- facturer is producing an electric vehicle, EV chargers are now the up-and-com- ing renewable amenity that commu- nities are considering. Then there is a possibility that communities could see a dividend from allowing their residents to utilize a community owned electric car charging facility. If you can repurpose land, your community may also realize financial benefit from a land-lease agreement with your renewable energy provider. Again, you will want to check with your professionals, to determine any impact these additional funds may have on the association. For the long-term, New Jersey’s governor has directed state agencies to develop a plan by the middle of 2019 for the state to achieve 100% clean energy production by 2050. The governor’s initiative is available on the state website at https://nj.gov/ governor/news/news/562018/ approved/20181217b.shtml. With the governor and local municipal- ities striving to achieve substantial renewable energy goals, it behooves associations to begin looking at the process and understand how they can become a part of this initiative. Currently, community solar is limited

that your community could poten- tially save, not just the association’s costs but also extend savings to the residents. By taking advantage of this type of initiative, communities

Experience Resources Excellence

The Service

You Deserve

Taylor Management Company has been managing community associations for decades. We have been recognized by the Community Associations Institute (CAI) as an Accredited Association Management Company (AAMC) and by the Institute of Real Estate Management (IREM) as an Accredited Management Organization (AMO). These designations are accorded for the highest level of ethics and professional management in the industry.

Leaders in Professional Community Management Since 1992!

80 South Jefferson Road, 2nd Floor, Whippany, NJ | Tel. 973.267.9000 100 Franklin Square Drive, Suite 203, Somerset, NJ | 732.764.1001

TaylorMgt.com

28

J U N E , 2 0 1 9