Regency Centers: Landlord-Retailer PPA Enables Roof-top Solar
Regency Centers is a national owner, operator, and developer of grocery-anchored shopping centers, with over 320 thriving centers and 37,800,000 square feet of retail space. In 2011, Regency partnered with Trader Joe’s to install 253 KW roof-top solar system at Regency Shops of Saugus center in Saugus, Massachusetts. Regency owns, maintains and operates the system and sells 100 percent of the power to Trader Joe’s at a discount to utility prices. Trader Joe’s is able to offset approximately 65 percent of their total electricity use with clean, affordable and reliable power. This Implementation Model was completed by the Retail Industry Leaders Association (RILA) with support from the Department of Energy’s Office of Energy Efficiency and Renewable Energy and the Better Buildings Initiative to highlight innovative proven energy solutions from market leaders in the Retail sector. To view the full PDF version of this implementation model, click here.
At its Regency Saugus Center in Massachusetts, national retail center owner Regency Centers partnered with tenant Trader Joe's to install a 253 KW rooftop solar system. Regency Centers owns the solar array and sells the generated solar energy power to Trader Joe's at a discount, offsetting approximately 65% of their total electricity use with clean power.
Retailers in leased spaces are challenged to install on-site solar when it requires purchasing the system or relying on a third-party lease provider.
Work with the landlord who installs, owns, and maintains the solar array and sells power directly to the retailer at a fixed rate that is at or below electricity rates.
Retailer saves money and accesses clean power to meet 65% of store’s energy needs.