Owens Corning and SunEdison Activate 440 Kilowatt PV Solar System in Kearny, NJ

Project Funded by SunEdison’s First Clean Energy Stimulus Grant and PSE&G’s Solar Loan Program Will Produce over 9.5 Million kWh of Clean Solar Energy over 20 Years

Business Wire

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Owens Corning (NYSE: OC), world leader in building materials and glass fiber reinforcements, and SunEdison, North America’s largest solar services provider, announced the activation of a 440 kilowatt (kW) roof-mount photovoltaic (PV) solar system at Owens Corning’s Kearny, New Jersey facility. The activation took place on Sept. 21, the day before SunEdison was awarded the first energy stimulus grant in the solar industry, under the American Recovery and Reinvestment Act (Recovery Act).

Under a long-term solar power services agreement (SPSA), Owens Corning will use a PV solar system at its Kearny facility that is financed, constructed and to be maintained by SunEdison. The new system will produce more than 522,000 kilowatt hours (kWh) of clean, solar energy in the first year of operation alone. Over 20 years, the PV solar system in use at Kearny will produce more than 9.5 million kWh, enough energy to power 893 average U.S. homes for a year, according to SunEdison projections.

“A critical part of Owens Corning’s sustainability strategy is greening our operations,” said Frank O’Brien-Bernini, Owens Corning’s chief sustainability officer. “By using a zero-emissions solar system, we’re continuing our long-term commitment to operate in ways that are environmentally safe and energy efficient. This solar installation is expected to offset nearly 14 million pounds of carbon dioxide over the life of the agreement,” O’Brien-Bernini said.

“I’m proud of our people and what they’ve done to help further green our operations,” said Evelyn Cruz, Owens Corning plant leader for Kearny. “This is a great example of how commitment and teamwork can make a big difference in our community and in the world.”

Owens Corning makes fiberglass and foam insulation products that significantly improve the energy efficiency of buildings. Homes and commercial buildings consume 40 percent of the world's energy, including more than 70 percent of the electricity in the United States. Owens Corning is also the largest manufacturer of reinforcements used in the production of blades for wind turbines, a growing source of renewable energy,

According to Brian Jacolick, General Manager, North America for SunEdison, “The Owens Corning Kearny facility raises the profile of solar adoption in the United States. The company’s forward-thinking view of solar serves as a model for businesses who want to control high energy costs while preserving the environment. Owens Corning also takes the lead with this solar installation as one of the first sites to be funded by the Recovery Act’s Section 1603 (Grant-in-lieu of Investment Tax Credit). The grant is a great stimulus to solar adoption and renewable energy, and we are pleased that this first project was developed with an industry-leader like Owens Corning.”

"In this challenging economy, PSE&G's $105 million solar loan program provides financing that removes risk for customers who want to install affordable and pollution-free solar systems," said Al Matos, PSE&G's vice president for renewables and energy solutions. "We have a huge challenge facing us in New Jersey if we’re going to meet the state’s renewables goals for the year 2020. It's going to take partnerships like this one, a partnership of developers, utilities and government working collectively to meet the goal. Owens Corning has stepped up, and we congratulate them on the completion of their first solar project."

Owens Corning’s Kearny facility produces roofing shingles, including Duration, Duration Premium and Oakridge products. The facility is located at 1249 Newark Turnpike in Kearny.

About Owens Corning

Owens Corning is a leading global producer of residential and commercial building materials, glass fiber reinforcements and engineered materials for composite systems. A Fortune 500 company for 55 consecutive years, Owens Corning is committed to driving sustainability through delivering solutions, transforming markets and enhancing lives. Founded in 1938, Owens Corning is a market-leading innovator of glass-fiber technology with sales of $6 billion in 2008 and about 16,500 employees in 30 countries. Additional information is available at www.owenscorning.com.

About SunEdison

SunEdison is North America’s largest solar energy services provider. The company finances, installs and operates distributed power plants using proven photovoltaic technologies, delivering fully managed, predictably priced solar energy services for its commercial, government and utility customers. In 2008, SunEdison delivered more kilowatt hours (kWh) of energy than any other solar services provider in North America. For more information about SunEdison, please visit www.sunedison.com

About PSE&G

Public Service Electric and Gas Company (PSE&G) is New Jersey’s oldest and largest regulated gas and electric delivery utility, serving nearly three-quarters of the state’s population. PSE&G is the winner of the ReliabilityOne Award for superior electric system reliability. PSE&G is a subsidiary of Public Service Enterprise Group Incorporated (PSEG) (NYSE:PEG), a diversified energy company ( www.pseg.com).