Regency Centers Begins Its Solar Initiative

Regency Centers has a creative idea for going green: switching to solar in cooperation with its retailers.

The company has installed its first solar energy system at the Shops at Saugus. The 18,740-square-foot photovoltaic array, built with 1,064 rooftop panels, will generate an estimated 250 KW of renewable energy annually. That’s 65% of the annual energy requirements of the center’s Trader Joe’s.

The center was chosen to launch this initiative because it’s in Massachusetts, where Regency has access to both federal and state incentives for green energy, including the Massachusetts Solar Renewable Energy Credit program. But the particularly handy thing about the solar initiative is that it helps retailers meet their own green goals.

“This project is a win-win scenario for Regency, Trader Joe’s and the environment. The Saugus solar system allows Regency to generate income from an unused portion of the shopping center roof, while meeting a majority of the energy needs for Trader Joe’s,” said Scott Prigge, senior vice president of national property operations for Regency Centers.

“The Saugus solar installation serves as a model for Regency to provide other retailers with eco-friendly energy options in other centers,” added Chris Widmayer, vice president of investments with Regency Centers.

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