Mount Laurel, NJ – Nessel Development announced the launch of Nessel Energy, a division dedicated to providing energy solutions to owners of office and industrial properties across the state of New Jersey. Drawing upon Nessel Development’s real estate experience, Nessel Energy was designed with property owners in mind – creating a new revenue stream by leasing unused rooftop space, while also lowering operating expenses by providing on-site solar energy production.
The Nessel Energy approach is built on the company’s 20-year experience in the commercial real estate industry. With a real estate portfolio valued at over $250 million and 8 megawatts (MW) of solar under their belt, the company has strong experience in both the real estate and solar world – especially in New Jersey.
“Personally, the launch of Nessel Energy is one in which I take great pride and has been a long-standing goal for us,” said Ari Nessel, Principal of Nessel Development. “Our company’s growing presence within New Jersey, a state with a well-known commitment to supporting green investments through energy incentives, makes for the perfect fit.”
Nessel Development’s venture into renewable energy is directly in line with the company’s values-based approach, committed to sustainability.
“When we look at a project, we do so through a lens that draws focus on both environmental sustainability and social responsibility – looking to make a difference both in New Jersey and all around the world,” added Nessel.
Due to the growth of a new Community Solar program in New Jersey, real estate owners are currently inundated with offers to lease rooftop space for solar that sends all electricity to the grid. This process shifts the energy benefits, away from business owners and tenants, to community “subscribers”. While still a positive impact, Community Solar’s value for real estate owners is limited. Plus, the Community Solar program is competitive and non-guaranteed due to capacity constraints.
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