Tecogen Inc. TGEN
today announced it signed a contract with a prominent hotel chain to provide a
tri-generation energy system for a 400 room hotel complex in Jersey City, New
Jersey. Tecogen will install the system, comprised of a group of Tecogen
InVerde 100 kW cogeneration modules, including absorption chillers, to provide
electricity as well as hot water for heating and chilled water for cooling
(tri-generation). The contract value is approximately worth $1.45 million.
By installing Tecogen's tri-generation energy system the hotel will save
upwards of $250,000 in energy costs annually. In addition, the increased
operating efficiency will diminish the hotel's carbon footprint and reduce
criteria pollutants (those contributing directly to smog and health effects)
to near zero levels through Tecogen's Ultra low-emission technology.
"Large hotels are an ideal fit for tri-generation energy systems consisting of
Tecogen cogeneration systems and absorption chillers," said Robert Panora,
Tecogen's President and Chief Operating Officer. "Hotels are facing increasing
costs from high electric rates, especially in urban areas such as Jersey
City. The combination of on-site electricity generation and reduced
utilization of conventional electric chillers will dramatically reduce the
electricity needed from the utility. We thank the New Jersey Smart Start
program for providing incentives that reduces the payback for installing
efficient tri-generation systems."
This project is supported through incentives from the New Jersey Smart Start
Buildings Program which provides financial incentives for commercial,
industrial, and governmental customers to integrate energy efficient and
renewable technologies into new construction, upgrades, and new cooling &
heating equipment installations. The project is eligible for up to $600,000
of incentive under the program.
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