Connecticut Green Bank’s C-PACE program finances solar and roof upgrade
Rocky Hill, CT (March 6, 2018) – The Connecticut Green Bank announces that Glenbrook Industrial Park, located at 650 Glenbrook Road in Stamford, has closed on Commercial Property Assessed Clean Energy (C-PACE) financing for the installation of a 135 kW solar photovoltaic (PV) system and upgrades to their roof. Projected savings over the effective useful life of the upgrades is expected to surpass $1 million.
The 181,216-square-foot manufacturing and industrial park building was originally constructed in 1938, and currently houses various artisans and light manufacturing firms. Since there are manufacturers in the building benefiting from the energy improvements, the project received an Energy on the Line grant, which is funded through the Connecticut Department of Economic and Community Development’s Manufacturing Innovation Fund.
The solar PV system was installed by 64 Solar, a commercial solar photovoltaic contractor firm headquartered in Westchester, NY. The system is projected to produce 162,000 kWh per year.
“The solar PV and our ‘cool’ roof will help our tenants continue their work, but in an even more ‘green’ way,” said owner representative Clay Fowler of Spinnaker Real Estate Partners LLC in South Norwalk.
“The Green Bank is excited to see the impact of C-PACE on the businesses in this multi-tenant property,” said Mackey Dykes, Vice President of Commercial and Institutional Programs at the Green Bank. “Property owners and tenants alike face many obstacles on their paths to success. Through C-PACE, we can help lower energy costs, allowing property owners to run more efficiently while having a greener footprint in the environment.