1. Renewables and
Redevelopment:
A Private Sector Perspective
New Jersey Future Redevelopment Forum
March 9, 2012
Richard F.X. Johnson
Matrix Development Group

2. Matrix Renewable Energy Solutions
 7 rooftop locations, 3.6 million SF of roof area
 Approximately 23 megawatts (MW) total array capacity
 9 MW direct to grid with PSE&G
 14 MW on five rooftops serving 8 firms
 Typical structure: long-term rooftop lease, rental
based upon power production
 SREC price risk to solar developer, not building owners
Lessons learned: the roof is valuable asset; beware of
“two chucks and a truck”; know where the money
comes from

3. The Other Renewables:
Energy Efficiency: Updating the Old with New Technology
 Inventory of Existing Buildings/Under Construction
(source: Cushman & Wakefield 2nd Quarter 2011 Report
 Office: 183.3 million SF existing; 0.59 million SF under
construction
 Industrial: 606.6 million SF existing: 0.92 million SF
under construction
 Average cost of energy in an office building is
approximately $2.80/SF/year; in a warehouse building
approximately $0.50/SF/year. A 10% reduction in
consumption would save approximately $82 million a
year, creating about $820 MM in additional value
 Go to www.naiopnj.org/greensustainable for program
descriptions

4. Renewing Embodied Energy:
The State Strategic Plan meets The Energy Master Plan
 Embodied energy
 “The sum of energy inputs (fuels/power, materials, human resources,
etc.) that was used in the work to make any product, from the point of
extracting and refining materials, bringing it to market, and disposal/re-
purposing of it.”
 The value of in place infrastructure, and the difficulty of
financing new infrastructure
 The legacy of the single-use corporate campus – the urban
exodus to Northern New Jersey in the 1970s and 1980s.
 Redevelopment as a cost-competitive, sustainable economic
development strategy.