Dow Jones & Company plans to construct a solar-power installation to generate clean energy for its corporate offices in central New Jersey.
The system 4.1 Megawatt system is expected to be one of the largest installations for solar power at a single commercial site in the U.S.
"Investing in solar power confirms our commitment to environmental responsibility. Dow Jones wants to be one of the companies making a difference," said Les Hinton, chief executive of Dow Jones. "Solar power is a renewable reminder that clean energy is possible and that responsible businesses can make it happen."
Dow Jones maintains a 200-acre campus on U.S. Route 1 in South Brunswick, N.J. Nearly 2,000 staff work at the facility, Dow Jones's largest.
Stephen Daintith, chief operating officer for Dow Jones said, "What makes this investment attractive is that not only are there meaningful environmental benefits but we also will see significant tax incentives and a substantial reduction in our annual energy costs."
The investment is part ofparent company News Corp.'s Global Energy Initiative and is its largest commitment to onsite renewable power to date.
The design calls for more than 13,000 solar panels covering nearly 230,000 square feet of parking space on Dow Jones's Bernard Kilgore campus in South Brunswick. The system is expected to produce the equivalent of 5 million kilowatt-hours of electricity per year, energy to power the servers and computers that support the global operations of Dow Jones.
At peak performance, the solar installation will be capable of supplying half the site's energy needs. Over the course of the year, accounting for the hours when the sun isn't bright or not shining at all, the system will supply nearly 15% of the campus's energy needs.
The South Brunswick campus includes elements of nearly every Dow Jones operation from corporate to sales and marketing to news. Major departments at the location include technology, product development, human resources, finance, facilities and legal.
"New Jersey is a leader nationwide in supporting solar-power installation, and we're grateful for the support of the state as well as PSE&G and the township of South Brunswick for assisting us in sourcing alternative, renewable energy such as solar," Mr. Daintith said.
Dow Jones intends to finance the solar energy system in part through PSE&G's Solar Loan Program.
"Dow Jones's leadership position with solar energy is a real-world example of how this technology can make sense for the environment," said Ralph LaRossa, PSE&G president and chief operating officer. "PSE&G has committed tens of millions of dollars in financing to help state businesses of all sizes install solar energy systems and take full advantage of this renewable energy source."