Granite Property Holdings Goes Solar with C-PACE

The 26.5-kW system will save tenant businesses more than $230,000

 

Rocky Hill, CT (July 11, 2018) – The Connecticut Green Bank is pleased to announce that Granite Property Holdings, LLC, has installed a 26.5-kW solar photovoltaic (PV) system on their roof at 55 Middletown Ave., North Haven, using Commercial Property Assessed Clean Energy (C-PACE) financing. The system will help lower the energy burden on the tenant businesses, with projected energy savings over the life of the system expected to surpass $230,000.

The primary tenant is Granite Communications, a communications firm founded in 1996 to implement business and VoIP telephone systems, hosted or cloud based voice platforms and call management solutions, to improve customer service, enhance productivity and lower costs.

The 81 panels were installed by Harvest Power Solar, headquartered in Bay Shore, NY, and the property owners worked with Lori Scala, a solar consultant, to qualify and select the contractor.

“When Scott Ward and I bought the building in 2011, we felt that the flat roof and lack of any nearby trees made going solar a natural fit. However, we soon learned that the process and procedure was daunting with specific requirements from the town building department, the utility and various state departments,” said Gregg Haughton, partner in Granite Property Holdings and CEO of Granite Communications. “Lori Scala and Harvest Power helped us navigate the process to get C-PACE financing from Connecticut Green Bank, and qualify the Zero Emissions Energy Credits that make the project viable. They also satisfied the town building department’s requirements as well as worked with the utility to make sure the system meets electrical codes.”

For more information on C-PACE, please visit www.cpace.com.

 

 

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C-PACE New Construction Pilot Program Launched

New program makes long-term and affordable financing available for higher performance new and redeveloped buildings

 

Rocky Hill, CT (June 15, 2018) – The Connecticut Green Bank is proud to announce a pilot program that will make Commercial Property Assessed Clean Energy (C-PACE) financing available for new construction in Connecticut. The C-PACE New Construction Pilot will provide property developers and owners with long-term, affordable and non-recourse financing to help them design and construct buildings that achieve a higher level of energy performance and reduced operating costs.

C-PACE New Construction can fill gaps in the capital stack needed for a new construction project, lower the overall cost of financing, or both. New commercial and industrial buildings designed and built to exceed what is required by Connecticut building and energy codes will be eligible to receive C-PACE financing for a portion of their overall eligible construction cost. C-PACE New Construction can be applied for a wide range of property types, including major redevelopment of existing and historic sites.

“Connecticut’s C-PACE program has already been very successful, providing more than 200 projects with $114 million in financing,” said David Gabrielson, Executive Director of PACENation, an industry group promoting Property Assessed Clean Energy (PACE) financing, “This New Construction Pilot expands C-PACE into an untapped market in the state by offering innovative financing to developers who can more affordably build to higher energy standards.”

When applying for C-PACE financing in the C-PACE New Construction Pilot, applicants will use whole building energy modeling to demonstrate that their project’s energy performance will exceed a code-compliant baseline. An eligible finance amount will be determined based on the performance beyond the baseline up to a maximum 20 percent of the total eligible construction cost.

“C-PACE for new construction opens many new opportunities in Connecticut,” said Mackey Dykes, Vice President of Commercial, Industrial, and Institutional Programs at the Green Bank. “By expanding the reach of C-PACE beyond building retrofits, C-PACE New Construction provides another financing option for developers. Other lenders view C-PACE more like equity than debt, which can help developers with overall project financing.  New buildings in Connecticut will serve our residents for 50 years or more, and we want to help get them right from the start.”

Financing through the C-PACE New Construction Pilot will be able to include costs directly related to the building’s design and construction, for example:

  • Engineering and design expenses;
  • Energy modeling expenses;
  • Building core and shell;
  • Energy consuming equipment and energy saving measures (HVAC, lighting, elevators, controls, windows, green or cool roofs, meters, etc.); and
  • Clean energy generation.

Applicants seeking funding through the C-PACE New Construction Pilot should discuss and review their projects with the Green Bank before submitting a financing application. This engagement ahead of application submission will help ensure that projects meet the requirements of the C-PACE New Construction Pilot.

Connecticut Green Bank will be hosting a launch event for the C-PACE New Construction Pilot on Wednesday, June 20 from 1:00 PM to 2:30 PM at the Energize CT Center, 122 Universal Drive N, North Haven, CT. For more information and to register to attend the event, please visit ctgreenbank.com/event/c-pace-new-construction-launch-event/

Learn more about the Pilot at http://www.cpace.com/newconstruction.

 

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Malibu Fitness Installs Solar System with C-PACE Financing

Farmington fitness center anticipates energy savings of over $800,000

Rocky Hill, CT (June 7, 2018) – The Connecticut Green Bank announces that Powerhouse Partners, LLC, has closed on Commercial Property Assessed Clean Energy (C-PACE) financing for the installation of a 131 kW solar photovoltaic (PV) system at their business, Malibu Fitness, located at 15 Executive Drive in Farmington. The system will help lower the energy burden on the business, with projected energy savings over the life of the system expected to surpass $800,000.

Malibu Fitness was built in 2006 as a California style fitness center in a 27,000 square foot facility. Owners Paul Carson and Jack Banks have also been the owners of the hugely popular Powerhouse Gym of Berlin, CT, which began in 1981. Both Jack and Paul have designed Malibu Fitness with an open, airy space, superior air-flow, and individual group training rooms for yoga, spinning and Pilates as well as one on one boxing training. They pride themselves on their overall strict standards of cleanliness and attention to air filtration maintenance. Member satisfaction is personally attended to by a dedicated staff.

“At Malibu Fitness, we care about our members’ physical and mental health. That means a clean, comfortable facility and high-quality fitness equipment as well as HVAC equipment, and that requires a lot of electricity,” said Jack Banks. “With solar panels, we can generate clean energy, which helps the environment. It’s another commitment to the health of our community, and it lowers our costs too.”

64 Solar of Scarsdale, NY, installed the system, which is expected to produce 157,432 kWh in its first year.

“Between lighting, equipment, and other electronic needs, fitness centers like Malibu Fitness can face a sizeable energy burden,” said Mackey Dykes, Vice President Commercial and Industrial Programs. “Finding a way to reduce these costs can unlock cash flows, and help them focus on their core business. With C-PACE financing, Malibu Fitness will realize immediate savings and make a positive impact on the environment.”

For more information on Malibu Fitness, please visit www.malibufitness.us. For more information on Connecticut Green Bank or C-PACE financing, please visit cpace.com.

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Cross Island Provisions Closes on C-PACE Financing for Solar PV

Savings from the solar system are projected to surpass $560,000 over 20 years

Rocky Hill, CT (May 22, 2018) – The Connecticut Green Bank announces that Cross Island Provisions Inc., located at 49 Plains Road in Essex, has closed on Commercial Property Assessed Clean Energy (C-PACE) financing for the installation of an 80.6 kW solar photovoltaic (PV) system on their building. The system will help lower the energy burden on the business, with projected savings over the life of the system expected to surpass $560,000.

The 5,800-sq. ft. facility is used for commercial operations related to the distribution of Boar’s Head delicatessen meats, cheeses and condiments by a group of inter-related companies owned and operated by the Piagentini family.

“Our family business always strives to be the most environmentally friendly company in distribution. With the addition of solar panels to our warehouse we feel we are even closer to reaching this goal,” said Michael Piagentini, owner of Cross Island Provisions. “There are so many positives to this green project, both environmentally and financially. We are excited to share our solar success with other distributors in our industry.”

SolarUS, headquartered in Branford, installed the system, which is projected to reduce CO2e emissions by 61 tons and produce 91,130 kWh of electricity in year one. Commercial Solar Systems of Hamden is the contract holder.

“C-PACE financing is great for businesses like Cross Island Provisions,” said Mackey Dykes, Vice President of Commercial, Industrial, and Institutional Programs at the Green Bank. “This solar project will reduce their carbon footprint and their energy costs. We hope other distributors will follow their example.”

For more information on C-PACE, please visit cpace.com. For more information on Solar US, please visit solarusmfg.com.

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Connecticut Green Bank Receives 2018 State Leadership in Clean Energy Award for Connecticut “Solar for All” Program

Partnership with PosiGen increased solar penetration by 188% in low-income communities

Rocky Hill, CT (May 16, 2018) — The Connecticut Green Bank was honored as a recipient of a 2018 State Leadership in Clean Energy Award for its Connecticut “Solar for All” program, a partnership with PosiGen Solar and Energy Efficiency. This was one of only six programs nationwide to win a 2018 “SLICE” Award for its outstanding accomplishments. The Clean Energy States Alliance (CESA), a nonprofit coalition of public agencies working together to advance clean energy, established these biennial awards to highlight model programs and projects that have accelerated the adoption of clean energy technologies and strengthened clean energy markets. The recipients of the awards were chosen by an independent panel of five distinguished judges, each with years of experience in clean energy.

The Connecticut “Solar for All” partnership is a ground-breaking public-private effort between the Green Bank and PosiGen. With Green Bank support, PosiGen offers a low-to-moderate income (LMI) targeted solar lease paired with energy efficiency measures for homeowners, regardless of income or traditional measures of creditworthiness. Since the partnership launched, solar penetration in Connecticut’s low-income communities has increased 188% and over 800 low-income verified households have signed up to go solar with PosiGen.

“Connecticut has the highest energy costs in the country, which places an undue energy burden on families, especially our most vulnerable citizens,” said Bryan Garcia, President and CEO of the Connecticut Green Bank. “In 2014, the Green Bank recognized that low to moderate income households were being left behind and were not benefiting from the growing green energy economy. Our ‘Solar for All’ partnership with PosiGen was created to address this issue, and the results speak for themselves. We are proud to be honored by CESA and proud to bring our vision for inclusive prosperity to all Connecticut residents.”

“Our partnership with the Green Bank has enabled us to dramatically lower energy costs and deliver positive financial impact to lower income families in Connecticut,” said Thomas Neyhart, CEO of PosiGen. “Our unique pairing of solar with energy efficiency further improves the health, safety, and comfort of our families, as well as the durability and value of their homes. We are truly honored to work with such an exceptional team at the Green Bank and look forward to continued success in our campaign to deliver Solar for All.”

CESA member organizations from across the U.S. submitted nominations for the 2018 SLICE Awards. Entries were judged based on public benefits and results, cost effectiveness, leadership and innovation, and replicability.

The five judges who reviewed all the nominated programs were: Elizabeth Doris (National Renewable Energy Laboratory); Sara Fisher-Goad (former Executive Director of the Alaska Energy Authority); John Geesman (former Commissioner at the California Energy Commission); Rebecca O’Neil (Pacific Northwest National Laboratory); and Devrashree Saha (Council of State Governments).

According to the judges, “The public-private partnership structure has allowed the CT Green Bank to use limited public dollars to attract sevenfold private investment, maximizing the program’s impact.”

CESA is publishing a case study on the Solar For All program in June. It will be posted on CESA’s website.

Additionally, CESA will host an upcoming webinar presentation on Thursday, August 2 at 1 pm EDT with guest speakers Kerry O’Neill, Vice President of Residential Programs at the Green Bank, and Beth Galante, Vice President of Business Development & Government Relations at PosiGen. For more information on this free webinar and to register, click here.

For more information, please visit posigen.com.

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Connecticut Green Bank to Participate in Solar Energy Innovation Network Project

The Green Bank is partnering with the Clean Energy States Alliance on a multi-state initiative to identify locations for distributed energy resources that provide benefits to the grid.

 

Rocky Hill, Connecticut (May 1, 2018) – The Connecticut Green Bank is participating in a multistate initiative that was selected by the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) to participate in a collaborative research effort to explore new ways solar energy can improve the affordability, reliability, and resiliency of the nation’s electric grid.

The multistate initiative is being led by the Clean Energy States Alliance (CESA), a national nonprofit coalition of public agencies and organizations working together to advance clean energy. The Green Bank will work with CESA and five other state partners to identify locations for distributed energy resources (DER) that provide benefits to the grid. The Green Bank’s work will focus on strategies for achieving customer adoption of DERs in high-value locations and measuring the impact these resources have on the electric distribution system.

The other agencies CESA is partnering with on this initiative are:

  • Office of the People’s Counsel for the District of Columbia
  • New Hampshire Public Utilities Commission – Sustainable Energy Division
  • Rhode Island Office of Energy Resources
  • Washington Department of Commerce – State Energy Office
  • Wisconsin Office of Energy Innovation

The multistate initiative is one of just nine teams selected to join the program, which is known as the Solar Energy Innovation Network.

“We selected teams that are experimenting with promising ideas to use solar power to improve the future of grid security and reliability in their communities,” said Kristen Ardani, who leads the Innovation Network at NREL.

The Green Bank will receive financial, analytical, and facilitation support as it works to anticipate and address new challenges and opportunities stemming from solar energy and other distributed energy technologies. The solutions developed and demonstrated by this multistate initiative will serve as a blueprint for other communities facing similar challenges and opportunities.

Distributed solar and other distributed energy resources are playing an increasingly important role in electricity systems across the United States. “When distributed energy is deployed optimally, it can offer benefits to the customer, to the grid, and to the other ratepayers,” says CESA Executive Director Warren Leon. “Well-sited DER can provide resiliency benefits, reduce grid congestion, and help defer or avoid distribution system upgrade costs.”

“Determining how we can extract the most value from distributed energy resources is critical to the sustained orderly development of the local clean energy industry,” says Bryan Garcia, President and CEO of the Connecticut Green Bank. “This project will help Connecticut and our partners identify areas where DERs can play a role in grid modernization and develop deployment strategies with utilities to capture these additional benefits.”

NREL is operating the Solar Energy Innovation Network with funding from the U.S. Department of Energy Solar Energy Technologies Office. NREL pursues fundamental research and development of renewable energy and energy efficiency technologies to transform the way we use energy.

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Multifamily Pre-Development Loan & Permanent Financing Together

The Community Preservation Corporation (CPC) and the Connecticut Green Bank are now working together to offer you a simple way to improve the energy efficiency, cost savings, comfort, safety and attractiveness of your multifamily property. This joint effort combines a Navigator Pre-Development Energy Loan with a HUD 223(f) loan or a Freddie Mac Small Business Loan (SBL) offering.

The unsecured Navigator loan funds customized analysis and design of energy improvements for multifamily properties using owner-selected and managed technical service providers.

Eligible Costs include:

  • Energy benchmarking, opportunity assessments, audits
  • Assessments of energy-related health and safety issues
  • Design, engineering and bidding of work
  • Costs to secure project financing for energy upgrades
  • Green charrettes and green physical needs assessments
  • Other reasonable energy-related expenses needed to design and fund your project
Read more about how a Navigator Loan with HUD/FHA or Freddie Mac financing works.

Ask your mortgage officer how we can help tailor a lending solution to fit your needs, and find out if we can underwrite to savings for sustainability improvements.

For more information about CPC, please contact Michael Staton or Timothy Deegan.

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Plastonics Closes on C-PACE Financing for Solar, Efficiency Project

Energy savings will surpass $775,000 for the Hartford powder coating business

 

Rocky Hill, CT (April 19, 2018) – The Connecticut Green Bank announces that Plastonics, located at 230 Locust Street, Hartford, has closed on Commercial Property Assessed Clean Energy (C-PACE) financing for the installation of a 99.7 kW solar photovoltaic (PV) system and energy efficiency upgrades to their lighting, HVAC system and roof insulation. Projected savings over the effective useful life of the upgrades is expected to surpass $775,000.

Established in 1959, Plastonics, Inc. was a pioneer in the powder coating business and continues to remain an innovator in the industry. They have developed specialized equipment for many unique applications, and automated equipment is used when possible to provide cost-effective operations. Plastonics applies coatings for automotive, medical, aerospace, military, marine, electronics and building hardware markets as well as consumer applications.

In addition to C-PACE financing, the project utility incentives and an Energy on the Line grant, an initiative funded through the Connecticut Department of Economic and Community Development’s Manufacturing Innovation Fund.

Design with Nature LLC in Avon, CT, provided technical assistance on the energy efficiency improvements, and the solar PV system was installed by All Green It, a solar photovoltaic contractor firm headquartered in Bristol, CT. The system is projected to produce 116,000 kWh per year.

“This was a perfect time to proceed with this project,” said Bob Zimmerli Jr., President of Plastonics. “The federal and state rebates were available, the solar panels will hopefully save us money for many years to come, and the LED lighting will make our work space brighter and better for our employees.”

“Using C-PACE financing, manufactures can lower energy costs, run more efficiently, have a greener footprint in the environment, and improve condition for their employees,” said Mackey Dykes, Vice President of Commercial, Industrial, and Institutional Programs at the Green Bank. “Energy efficiency measures and solar will help Plastonics, like many other Connecticut manufacturers that have used C-PACE, remain strong.”

For more information about Plastonics, visit www.plastonics.com. For information on C-PACE, visit www.cpace.com.

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Connecticut Green Bank presents 2017 PACEsetter Awards

Rocky Hill, CT (March 15, 2018) – The Connecticut Green Bank announced the winners of the 2017 PACEsetter Awards during a ceremony today at the Energize Connecticut Center in North Haven. The award winners are a driving force behind the success of the Green Bank’s Commercial Property Assessed Clean Energy (C-PACE) program. This is the third annual PACEsetter Awards ceremony. 

The Connecticut Green Bank created the PACEsetter Awards to acknowledge contractors, building owners and other stakeholders who are advancing the green energy movement through C-PACE, and whose leadership establishes a “pace” for others in their field to follow.

C-PACE is an innovative program, administered by the Green Bank, which helps commercial, industrial, and non-profit property owners access affordable, long-term financing for meaningful energy upgrades to their buildings. C-PACE enables building owners to finance qualifying energy efficiency and renewable energy improvements through a voluntary assessment on their property tax bill. As the program grows, more Connecticut businesses achieve lower energy costs and increase their bottom-line. The Green Bank recently announced that they had closed their 200th C-PACE project.  

“Our ‘PACEsetters’ are the driving force behind the C-PACE program. Without our strong contractor network, leadership by building owners, dedicated municipal officials, and other stakeholders who are leading the charge, the program would not have realized so much success,” said Mackey Dykes, Vice President of Commercial, Industrial, and Institutional Programs at the Connecticut Green Bank. “The Connecticut Green Bank recently passed an exciting milestone, closing our 200th C-PACE project – we are pleased to recognize some of the individuals and organizations who helped us to achieve this.”

The Green Bank acknowledged contractors, building owners and other stakeholders across multiple categories:

 Top Performer, 2017

Green Earth Energy, a C-PACE contractor based in East Windsor who closed 8 C-PACE projects in 2017, the most of any contractor in the program

Outstanding Project, 2017

Earthlight Technologies of Ellington & Constantinos Constantinou for their comprehensive solar and energy efficiency project financed through C-PACE at 28 High Street, Hartford, CT, a mixed-use property including residential space. This project included a 52.2 kW solar PV system and upgrades to insulation, LED lighting, windows, condensing furnaces, and HVAC systems.

Design With Nature of Avon, CT & Metal Finishing Technologies for their comprehensive energy efficiency project financed through C-PACE at Metal Finishing Technologies’ Bristol, CT manufacturing facility. This project included upgrades to HVAC systems, compressors, interior lighting and windows.

Direct Energy Solar, a Centrica Business Solutions company, of Middletown, CT & Durham Agricultural Fair Association, Inc. for their solar project, a Power Purchase Agreement (PPA) secured by C-PACE, at the Durham Agricultural Association Fairgrounds in Durham, CT. The solar PV system at the Fairgrounds is 188.65 kW.

Accelerating PACE, 2017

Patricia Crisco, Tax Collector for the Town of Woodbridge, CT, who has been a leader in her municipality’s participation in C-PACE.

Jeffrey Pugliese of the Middlesex Chamber of Commerce, who has been a driving force in supporting the use of C-PACE to strengthen the business community in the Middlesex region.

NorthEast Energy Designs and Solutions of Stamford, CT, which is effectively utilizing C-PACE to collaborate with building owners and develop comprehensive C-PACE projects.

64 Solar of Port Chester, NY, which closed five solar projects in 2017 using C-PACE financing and C-PACE secured PPAs, demonstrating how solar and PACE can empower Connecticut building owners.

  

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