New Jersey Health System Expected to Save $10M With Solar Panels

Saint Peter’s Healthcare System in New Brunswick, N.J., is projecting savings of $10 million in electricity costs over the next 25 years after it installs $10 million worth of solar panels, according to a New Jersey Press Media report.

Advertisement

The project, the largest solar initiative of any New Jersey hospital, will feature solar panels over an existing parking lot and on top of a nearby parking deck at Saint Peter’s University Hospital. Solar panels will also be installed at three other buildings.

According to the report, the panels and $4.8 million worth of energy-efficiency upgrades at SPUH were financed through the Public Service Electric and Gas Company Hospital Efficiency Program, which will cover roughly 50 percent of the solar panels and 80 percent of the efficiency upgrades.

Related Articles on Hospital Savings:

5 Significant Money-Saving Strategies for Hospital CFOs
Opportunity Knocking: Taking Advantage of Low Short-term Interest Rates
Johnston Health in North Carolina May Outsource Food, Janitorial Services to Cut Costs

At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.

Advertisement

Next Up in Financial Management

Advertisement

Comments are closed.