Key Properties has collaborated with Solect Energy to complete its first solar energy project. The 110 kW rooftop solar installation at the Key Properties Extra Space Storage building in Cedar Knolls, New Jersey is designed to offset 100% of the building's electricity usage.

Adam Schlussel, Vice President of Key Properties, said, "Solar energy is a natural choice for us to reduce operating costs. By partnering with Solect Energy, we have reduced electricity costs from 17 cents per kilowatt hour to less than 1 cent and generated recurring income through incentive measures. For us, it's like adding another long-term tenant to the building

Tony Johnson, Vice President of Business Development at Solect Energy, said, "Key Properties focuses on sustainability and maximizing financial value on this project, and we are pleased to work with them to achieve these two goals. This project not only offsets 100% of the building's electricity consumption, but also highlights the long-term economic benefits and environmental impact that solar energy can bring to commercial real estate owners

The Cedar Knolls branch of Key Properties uses natural gas for heating and electricity for air conditioning and lighting. The solar energy system now completely offsets the electricity consumption of buildings. For their next solar project, Key Properties and Solect Energy are collaborating to design a system that will meet 100% of the energy needs of all electric buildings in the future.