NFI Solar was launched in collaboration with Solare Development Group, a New Jersey-based corporation that manages the construction of solar installations.
The new division recently installed a 1.323-megawatt system on NFI’s Cherry Hill, N.J. facility, which houses the company’s corporate headquarters and a commercial warehouse. More than 6,000 panels on the 290,000-square foot building are expected to produce approximately 1.4 million kilowatt hours yearly, enough to power 200 homes annually. NFI expects the solar energy to save 25% on the facility’s annual energy costs.
Initially, NFI Solar says it will focus on its parent company’s real estate and large warehouse facilities. In 2010, the division is planning to install three additional solar energy systems in New Jersey. Over the next few years, the company will expand into other regions, including Texas and California, according to the company.