CURE Innovation Commons to save energy costs through C-PACE program

Groton, CT (August 14, 2017) –  Using the Connecticut Green Bank’s innovative Commercial Property Assessed Clean Energy (C-PACE) program, CURE Innovation Commons (“The Commons”) has financed energy improvements that will save the laboratory incubator more than $1.7 million in energy costs over the 17-year life of the loan term.

The project at The Commons is a perfect example of how support from Connecticut Green Bank can advance green energy goals and expand our economy by investing in the jobs and technologies of the future.

“This green energy project is very important to us from a bottom line perspective, because of the long-term cost savings, but it is also vital in terms of our role in the community,” said Susan Froshauer PhD, President and CEO of CURE. “We are in the business of science and research, and we strive to lead by example when it comes to using the latest technology to improve the quality of life for those who work at our facilities and our neighbors in Groton.”

The Commons is one of Connecticut’s newest science and technology incubators for entrepreneurs, professionals, scientists, start-ups and growing companies to develop ideas and build businesses in a collaborative community setting. In addition to funds provided for renovations by the Connecticut Department of Economic and Community Development (DECD), The Commons used C-PACE to fund energy efficiency upgrades including the installation of new HVAC equipment and a high efficiency generator.

“We are committed to making green energy accessible to businesses throughout the state,” said Mackey Dykes, vice president of commercial, industrial and institutional programs at Connecticut Green Bank. “C-PACE allows nonprofit, commercial and industrial property owners to access financing for green energy projects and to pay off projects through a property assessment. Financial innovations like these make projects possible at properties like The Commons, where new ideas and innovations in science and technology are being incubated – creating an opportunity for new jobs and economic growth in the community.”

Since its creation in 2011, the Connecticut Green Bank has deployed more than $1 billion in capital to fund green energy projects in Connecticut. This investment helps Connecticut create jobs, meet carbon reduction goals and improve the state’s energy security.

 

 

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Resources for State Residents to Navigate Solar Questions

GoSolarCT.com, DCP’s Solar Panel Buyer’s Guide offer unbiased input

Rocky Hill, CT (August 2, 2017) – As solar installations in Connecticut continue to increase, the Department of Consumer Protection (DCP), the Office of Consumer Counsel (OCC), and the Connecticut Green Bank want to remind residents that informational resources exist to help guide them through the process of adding solar photovoltaic (PV) systems to their homes.  Two suggested resources are GoSolarCT.com and DCP’s Solar Panel Buyer’s Guide.

As of July 2017, nearly 25,000 state residences have installed solar, producing more than 175 MW of clean, renewable power. Through GoSolarCT, the Connecticut Green Bank seeks to make information on the solar process available in one location for homeowners in the state.

“The GoSolarCT website helps Connecticut residents understand the costs, installation, and upkeep of solar projects in one location,” states Bryan Garcia, President and CEO of the Connecticut Green Bank. “This website is an educational outreach tool for Connecticut residents wanting to convert to solar energy. This project and others that educate Connecticut residents on solar installation and renewable energy sources benefits the state and the entire region.”

“There are a lot of different aspects to going solar,” said Consumer Protection Commissioner Michelle H. Seagull. “We want to make sure consumers know who they’ll be interacting with, what credentials those professionals need to have, and what questions they should ask throughout the process. Going solar, like any home improvement related project, is a big investment, and it’s important that consumers do their research before making a commitment.”

GoSolarCT shares pertinent information in an easy, interactive way for Connecticut homeowners and includes a glossary of terms, a potential energy savings calculator and a list of frequently asked questions and answers.

The GoSolarCT website identifies four key areas for people considering installing solar products:

  • How solar works
  • Selecting a contractor and various financing options
  • The installation process
  • Ongoing maintenance

“I’m delighted the Connecticut Green Bank and DCP are assisting customers with these guidance resources,” stated Consumer Counsel Elin Swanson Katz. “My office has handled occasional inquiries from customers looking into solar, but are struggling with weighing financing options, choosing a contractor, and understanding savings estimates. It is important that customers feel that they have made a well-informed choice with regard to this major decision, and these resources should make the process both reassuring and hopefully exciting. I commend the Connecticut Green Bank and DCP and look forward to continuing to work in partnership with them to promote solar growth and understanding.” 

 

About the Connecticut Green Bank

The Connecticut Green Bank was established by the Connecticut General Assembly on July 1, 2011 as a part of Public Act 11-80. As the nation’s first full-scale green bank, it is leading the clean energy finance movement by leveraging public and private funds to scale-up renewable energy deployment and energy efficiency projects across Connecticut. The Green Bank’s success in accelerating private investment in clean energy is helping Connecticut create jobs, increase economic prosperity, promote energy security and address climate change. For more information about the Connecticut Green Bank, please visit www.ctgreenbank.com.

For more information, contact: Rudy Sturk, Senior Associate, Marketing, Connecticut Green Bank, at (860) 259-1154 or [email protected].

 

About the Department of Consumer Protection (DCP)

The Department of Consumer Protection’s mission is to ensure a fair and equitable marketplace, safe products and services for consumers in the industries that we license, regulate and enforce. The Department has seven divisions with their own areas of expertise: Drug Control, Foods and Standards, Investigations, Gaming, Licensing, Liquor Control, Occupational and Professional Licensing, and Trade Practices. The Department also administers 18 professional Boards, Councils and Commissions.

For more information, contact: Lora Rae Anderson, Director of Communications, Department of Consumer Protection, at (860) 713-6019 or [email protected].

 

About the Office of Consumer Counsel (OCC)

The Office of Consumer Counsel (OCC) serves as a strong independent voice for Connecticut’s public utility and telecommunications consumers through advocacy and customer education. The OCC is authorized to participate on behalf of consumers in all administrative and judicial forums and in any matters in which the interests of consumers with respect to public utility matters may be involved.

For more information, contact:  Joseph A. Rosenthal, Principal Attorney, Office of Consumer Counsel, at 860-827-2906 or [email protected].

 

 

 

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Financing Clean Energy in Affordable Housing (webinar recording)

Over the past several years, Connecticut Green Bank has partnered with the affordable housing sector and private capital providers to provide critical education, financing, technical assistance and resources that address barriers to deployment of clean energy projects in affordable housing properties. In March 2017, Connecticut Green Bank strengthened its commitment to the state’s low-to-moderate income residents by welcoming Betsy Crum, a veteran professional in affordable housing development and finance, to its board of directors.

The Green Bank Network held a webinar on the approaches the Connecticut Green Bank is taking to increase financing for clean energy in affordable housing properties and how Crum’s appointment to the Board will push the bank even further in its efforts.

The presenters were:

  • Betsy Crum, Executive Director of the Women’s Institute for Housing and Economic Development and Member, Connecticut Green Bank Board of Directors
  • Kerry E. O’Neill, Vice President of Residential Programs at Connecticut Green Bank
  • Kim Stevenson, Associate Director, Multifamily Housing at Connecticut Green Bank

The recording of the webinar is below.

 

 

 

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