Qcells Completes Two Solar and Storage Projects on Hanwha Aerospace USA Sites

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HAU Becomes First Manufacturer to Benefit from Connecticut’s Energy Storage Solutions Program

CHESHIRE, Conn. – May 14, 2024 – Qcells, a global leader in complete clean energy solutions, and Hanwha Aerospace USA (HAU), a leading aviation and aerospace component manufacturer, both subsidiaries of the Hanwha Group, today announced the completion of two solar and energy storage projects in Connecticut to help HAU meet its energy demands. Under a 20-year Power Purchase Agreement (PPA) Qcells will provide HAU with nearly 20% of its energy needs. The projects are among the first to utilize Connecticut’s Energy Storage Solutions program and make HAU the first manufacturer to benefit from the state storage incentives.

Launched in 2022 by Connecticut’s Public Utilities Regulatory Authority (PURA), the nine-year Energy Storage Solutions program is managed by Connecticut Green Bank, the nation’s first state-level green bank, along with Eversource and UI. Qcells’ two projects – located in Cheshire and Newington, Connecticut – total 1.7 megawatts (MW) of solar and 1.2 megawatt-hours (MWh) of storage. Qcells ultimately is a one-stop shop for HAU, offering end-to-end service that covers customer power consumption pattern analysis, design, permitting, construction and operation, all fully financed.

During the life of the agreement, Qcells’ solar and storage systems could reap more than $2 million in utility bill savings. Beyond cost savings, in the long-term, Qcells’ projects are anticipated to avoid the release of more than 32,000 metric tons of CO2 equivalent, which is equal to taking more than 7,000 gas-powered passenger vehicles off the road for a year, according to the U.S. Environmental Protection Agency (EPA) calculator. Qcells’ combined solar and battery storage also effectively supplies backup power for critical loads during outages.

The state’s storage program is a key to bringing more reliable, affordable storage solutions to Connecticut. The program is aimed at helping all types of energy customers install clean storage solutions to increase reliability and lower energy costs. Qcells’ system will contribute to the grid during critical periods and in return is eligible for performance incentives. With its Geli EMS software, Qcells optimizes battery charging and discharging to comply with program requirements and maximize both the operational and financial performance of the projects.

Qcells’ projects for HAU were also made possible by incentives under the Inflation Reduction Act, which provides a 30% tax credit for both storage and solar installations. These projects are a prime example of how state and federal policies together can accelerate the clean energy transition, lower energy costs and increase grid reliability in a changing climate.

“Qcells’ solar and storage projects are an achievement for Connecticut manufacturing and for Eversource and UI ratepayers. Not only will Hanwha Aerospace USA benefit from demand charge savings on their electric bills and have backup power in case of an outage, but Connecticut ratepayers will also see the benefits that come from reduced strain on the grid,” said Sergio Carrillo, Managing Director, Incentive Programs at the Green Bank. “Energy Storage Solutions customers will send power from their batteries to the grid during times of peak demand in the summer and winter, which can help make the grid cleaner, cheaper, and more reliable.”

“From the aerospace engines business to the steel industry, we are seeing more and more manufacturers begin to understand the wide-ranging benefits Qcells’ full suite of clean energy solutions provide,” said Jin Han, Corporate Officer, Head of Distributed Energy at Qcells. “Our end-to-end energy solutions will help companies like Hanwha Aerospace USA and communities across the country alike, achieve sustainability goals while also increasing grid reliability, resiliency and cost savings. Ultimately, we are proud to help power Hanwha Aerospace’s operations and to be an inaugural part of Connecticut’s Energy Storage Solutions program.”

“As we continue to add renewable energy supply to the Connecticut electric grid, energy storage will become increasingly important for maintaining reliability,” DEEP Commissioner Katie Dykes said.  “The Energy Storage Solution program was designed to jump-start efforts to add this storage. These two Hanwha projects evidence the success of the program and the potential to offer grid reliability benefits along with cost savings and reliability services for Connecticut businesses.”

“Hanwha Aerospace has made a strong commitment to Connecticut, establishing its International Engines Business Headquarters in Cheshire and pledging to further strengthen its presence here.  Today’s announcement is another example of how Hanwha is following through,” said Dan O’Keefe, Commissioner of the Department of Economic and Community Development.  “It is great to see an industry leader of Hanwha’s stature demonstrating leadership in terms of clean energy adoption in our state.”

“We see our 20-year agreement with Qcells as an incredible opportunity to make Hanwha Aerospace USA’s operations cleaner, more resilient and more affordable,” said Stephen Lindsey, Chief Technology Officer for Hanwha Aerospace USA. “We’re leading the way in our industry as we adopt clean energy solutions across our operations. HAU looks forward to the long-term benefits this agreement will yield both for our business and for the surrounding community as the projects provide us clean, resilient energy and contribute to a more sustainable and reliable power grid.”

 

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About Qcells

Qcells is one of the world’s leading clean energy companies, recognized for its established reputation as a manufacturer of high-performance, high-quality solar cells and modules, portfolio of intelligent storage systems, and growing international pipeline of large-scale renewable energy projects. Qcells also provides renewable electricity retail services and packages to end customers across the world. The company is headquartered in Seoul, South Korea (Global Executive HQ) with its diverse international manufacturing facilities in the U.S., Malaysia, and South Korea. Qcells offers Completely Clean Energy through the full spectrum of photovoltaic products, storage solutions, renewable electricity contracting and large-scale solar power plants. Through its growing global business network spanning North America, Europe, Asia, South America, Africa and the Middle East, Qcells provides excellent services and long-term partnerships to its customers in the utility, commercial, governmental and residential markets. For more information, visit: https://qcells.com/us/.

About Hanwha Aerospace

Hanwha Aerospace is a global aerospace and defense company that offers a broad portfolio of products and services in land combat vehicles, including the world-renowned K9 Self-Propelled Howitzer and the Redback Infantry Fighting Vehicle, weapons systems, munitions, aircraft engine parts, and technology products and services. As South Korea’s largest aerospace and defense company, Hanwha Aerospace is engaged in the research, development, and manufacture of advanced technology systems, products, and services, and is spearheading the country’s space projects. More information about Hanwha Aerospace is available at www.hanwhaaerospace.com.

 

Safe-Harbor Statement

This press release contains forward-looking statements. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and Qcells’ operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Except as required by law, Qcells does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Groton Public Schools Announces Solar Installations at Two Schools

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Working with the Connecticut Green Bank, the systems at Groton Middle School and Mystic River Magnet School are projected to save the district more than $800,000 over the project term

 

Mystic River Magnet School

Groton, CT (May 6, 2024) – The Town of Groton Board of Education is proud to announce the installation of solar photovoltaic (PV) systems on two schools, Groton Middle School and Mystic River Magnet. These systems are estimated to save the district more than $40,000 annually in energy costs and more than $800,000 over the term of the power purchase agreements (PPA). The Connecticut Green Bank provided Groton Public Schools with guidance through its Solar Municipal Assistance Program (MAP), which simplified the process of going solar to allow the district access to the savings benefits with fewer challenges. Solar developer Verogy was responsible for the installation of the systems.

The system at Groton Middle School has 560 panels with a 230 kW capacity, and the Mystic River Magnet School has 256 panels with 100 kW capacity.

“During the planning and construction of the Groton 2020 initiative, which built our three new schools, the community expressed interest in green energy options,” said Susan Austin, Superintendent of Groton Public Schools. “We worked with Connecticut Green Bank and received the financing to install the solar panels at two of our new schools, at no cost to the community, which will provide significant savings.”

Groton Middle School

“We’ll continue to explore future opportunities for renewable and green energy. As part of the planned roofing project at Charles Barnum next year, the BOE is interested in looking at solar energy,” she added.

“Groton Middle School and Mystic River Magnet School were designed and built with infrastructure in place to support a plan to install Solar PV systems in the future. Working with the Green Bank over the last four years through their Solar Municipal Assistance Program and their partners, CSW Energy and Verogy, the district was able to execute that plan. Groton Public Schools is presently working with the Green Bank for solar installations on two other schools and looks forward to completing those projects,” said Rick Norris, Project Manager, Groton Public Schools.

Groton is the latest in a series of successful municipal installations completed using the Green Bank’s Solar MAP. Through this program, the Green Bank offers technical support to municipalities seeking assistance in developing solar PV projects on municipal buildings, such as town halls, emergency services buildings, schools, and more. The Green Bank also provides financing for the solar systems through a PPA, which allows the municipality to access solar with no upfront installation costs, no new debt to incur, and no operations and maintenance costs.

“We commend Groton Board of Education for their commitment to sustainability for their schools. We are proud to be their partner in clean energy and are excited for Groton to start benefiting from their new solar systems,” said Mackey Dykes, Vice President of Financing Programs at the Green Bank.

“We are thrilled to have had the opportunity to design and build projects at Groton Middle School and Mystic River Magnet,” said Will Herchel, CEO of Verogy.  “These arrays not only reflect Groton’s commitment to sustainability, but also offer a real-world example of environmental stewardship for Groton students. By harnessing solar energy, Groton’s leaders are lighting the path to a greener tomorrow, empowering their community with clean, cost-effective renewable energy solutions.”

For more information on the program or to have someone contact you about participation, please visit ctgreenbank.com/solarmap/.

Governor Lamont, Congressional Delegation Announce Connecticut Selected To Receive $62.5 Million for Solar Projects Benefitting Low-Income Residents

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(HARTFORD, CT) – Governor Ned Lamont and the members of Connecticut’s Congressional delegation today announced that the U.S. Environmental Protection Agency (EPA) is awarding the Connecticut Department of Energy and Environmental Protection (DEEP) with a $62.5 million grant under its Solar for All initiative.

This competitive grant program through the EPA’s Greenhouse Gas Reduction Fund is aimed at expanding solar energy investment in low-income and disadvantaged communities (LIDAC). The grant competition is funded by President Joe Biden’s Investing in America agenda as part of the Inflation Reduction Act.

Connecticut’s grant application was led by DEEP in close collaboration with the Connecticut Green Bank, the Connecticut Public Utilities Regulatory Authority (PURA), the Connecticut Housing Finance Authority, the Connecticut Department of Housing, the Connecticut Department of Economic and Community Development, and others, making up the Connecticut Consortium. The consortium’s application is called, “Project SunBridge: Connecting Communities to a Solar Future.”

Project SunBridge will reach thousands of households, with a priority focus on multi-family affordable housing units. The project is designed to overcome current barriers for low-income and disadvantaged communities to access solar and storage energy technologies through a combination of financial and technical assistance.

Governor Lamont said, “This funding means more residents in Connecticut – and importantly, more low-income residents in our state – will be able to realize the benefits of clean, renewable energy and the savings associated with it. This funding provides for more equitable participation in the green economy and helps us make our grid cleaner and more reliable. Thank you to the Biden administration and the EPA for this Inflation Reduction Act funding, to our Congressional delegation for their efforts to pass the underlying legislation, and to DEEP for taking the lead along with fellow application partners to secure this funding for the residents of our state.”

U.S. Senator Richard Blumenthal said, “This $62.5 million in federal funding will uplift communities, grow well-paying jobs, reduce greenhouse gas emissions, and expand Connecticut’s solar energy infrastructure.

U.S. Senator Chris Murphy said, “Solar energy is a great way to lower energy costs and reduce pollution, but the upfront price makes it hard for many people to afford the switch. Project SunBridge will help ensure low-income communities aren’t excluded from the benefits of solar energy. This $62.5 million in federal funding will cut energy bills for thousands of families and help Connecticut get closer to our goal of a zero-carbon electric sector by 2040.”

Congressman John B. Larson (CT-01) said, “I worked with my colleagues on the House Ways and Means Committee and the entire Connecticut delegation to pass the largest investment in our nation’s history to combat climate change. This $62.5 million grant, funded by our efforts in Congress, will support the deployment of solar power to more than 12,000 households across the state, including in Hartford and Portland, a huge step toward decarbonizing our electric grid. Whether it be solar, wind, or hydrogen, I will continue to work to ensure our state remains at the forefront of America’s clean energy future.”

Congressman Joe Courtney (CT-02) said, “The Inflation Reduction Act is the largest investment in climate mitigation and clean energy in our nation’s history. Today, on Earth Day, Connecticut is once again reaping its rewards with $62.5 million coming to help increase access to solar energy technology across low-income communities. This is a strong step towards ensuring the benefits of clean energy is within reach for every resident.”

Congresswoman Rosa DeLauro (CT-03) said, “I am proud to have helped secure these funds for the Solar for All initiative, which will lower energy costs and reduce pollution in vulnerable communities across our state. This Earth Day announcement will propel our work to combat climate change forward and expand renewable energy options to families looking to reduce not only their costs, but their ecological footprint as well.”

Congressman Jim Himes (CT-04) said, “Connecticut has long been on the cutting edge of innovation to curb the effects of climate change, and I’m thrilled to see this $62.5 million Solar for All grant for Project SunBridge help residents make the transition to clean energy. As the climate crisis continues to disproportionately affect low-income communities, this federal funding will expand access to solar energy for underserved neighborhoods along our coast – a crucial step toward reducing our carbon footprint.”

Congresswoman Jahana Hayes (CT-05) said, “Investing in renewable energy is vitally important to reducing greenhouse gas emissions and addressing the climate crisis. I am excited more funding from the Inflation Reduction Act is coming to Connecticut. Through Project SunBridge, DEEP will assist thousands of families access solar energy, with an emphasis on communities with the most need. I look forward to working with Governor Lamont, Commissioner Dykes, and the Connecticut Congressional delegation to continue delivering results for the people of Connecticut.”

DEEP Commissioner Katie Dykes said, “We are thrilled the EPA’s national competition recognized the effort and vision to expand the benefits of solar energy here in Connecticut. We have a tremendous opportunity to deliver the affordability and resiliency advantages of solar energy to homes and communities that deserve further investment. We look forward to working with our many partners to promote energy independence while delivering lower energy costs.”

PURA Chairman Marissa P. Gillett said, “Expanding community solar in our underserved municipalities will increase ratepayer access to the meaningful benefits of renewable energy sources, including reducing carbon emissions and energy bills, and improving grid resilience. PURA applauds the EPA for providing this essential funding that will build on Connecticut’s ongoing efforts to achieve an equitable modern grid for all ratepayers. PURA thanks DEEP for leading this solicitation and is excited to collaborate with our state partners to ensure these new solar projects are successfully deployed.”

Connecticut Green Bank President and CEO Bryan Garcia said, “Today’s announcement from the EPA recognizes Connecticut’s track record of leading the way on equitable deployment of solar PV and battery storage to share the benefits of the green economy. We look forward to collaborating with members of the Consortium to empower vulnerable communities. This new investment will unlock resources for underinvested families residing in affordable housing to help them realize a reduced energy cost burden.”

Connecticut Housing Finance Authority CEO Nandini Natarajan said, “I am honored for CHFA to be a part of an amazing partnership with our fellow agencies to bring critical federal resources to the state of Connecticut. The EPA’s award celebrates Connecticut’s unwavering dedication to making clean energy accessible to all. The Solar for All program offers an opportunity to reduce energy expenses, invest in the heath and sustainability of Connecticut’s affordable housing inventory, and empower our underserved communities. We are excited to collaborate with our partners to promote energy independence and advance our shared goals of building a more environmentally sustainable and equitable future.”

Through greater access to distributed solar and storage installations, Project SunBridge aims to achieve a minimum household energy savings of 20% for all participants, and will further help Connecticut’s goal of a zero-carbon electric sector by 2040, as established by Public Act 22-5.

These measures will supplement and enhance existing incentive programs in Connecticut such as the Residential Renewable Energy Solutions, Energy Storage Solutions, and Shared Clean Energy Facilities programs. The Connecticut Consortium, along with the electric distribution utilities, is already in the process of creating resources to streamline the customer eligibility verification process and to explain and promote what programs and incentives are available. The consortium seeks to implement Solar for All funds in a way that reaches every corner of Connecticut. Project SunBridge will conduct stakeholder outreach to identify barriers to distributed solar and storage deployment in LIDAC households and identify the most impactful use of funding.

Connecticut Green Bank Launches 10th Green Liberty Notes Offering, Celebrates the Purchase of Over $100M in SBEA Loans

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10th offering supports energy efficiency upgrades for small businesses and organizations with investments starting at $100.

 

Hartford, CT (April 16, 2024) – CGB Green Liberty Notes LLC, a subsidiary of the Connecticut Green Bank, announced the opening of its 10th offering today. The crowdfunding campaign is in its third year and is made possible with Raise Green, an online marketplace for impact investing. In addition to the next round of Notes, the Connecticut Green Bank and Amalgamated Bank are celebrating the purchase of more than $100M of Small Business Energy Advantage (SBEA) loans, driving environmental benefits and economic growth in local restaurants, town halls, community organizations, and more.

“We’re thrilled to launch yet another round of Green Liberty Notes in time to celebrate Earth Day and empower local residents to support Connecticut’s clean energy transition,” said Bryan Garcia, President and CEO of the Connecticut Green Bank. “This is a significant milestone in our work to bolster small businesses and organizations across the state and improve the local economy. We encourage those looking to join our fight against climate change and make a difference in your community to consider investing.”

Investments made in the Green Liberty offering contribute to Eversource’s SBEA program, enabling small businesses in Connecticut to lower their energy expenses through efficiency enhancements and interest-free loans. Due to the climate benefits associated with the SBEA program, this Green Liberty offering has been reviewed and verified for its environmental attributes by Kestrel. The Green Bank’s partnership with Amalgamated Bank has deployed over $100 million of private capital into the SBEA program.

Notes may be purchased through the Raise Green online platform without a broker, starting with a $100 minimum. The previous Green Liberty offering was the seventh consecutive offer to surpass its maximum limit for raised amount, so interested investors are encouraged to act quickly.

Featuring a low minimum investment, a short one-year term and easy online purchase process, Green Liberty offerings were created to be accessible to nearly anyone who wants to invest. In total, more than $2 million has been raised from Connecticut citizens and buyers from 35 states nationwide. Over 60% of original investments have been $1,000 or less, with more than half of the investors being Connecticut residents.

Investors from the sixth round of Green Liberty Notes (now reaching the end of its term) can reinvest their principal and interest in this latest offering. Anyone who invested in the sixth round and invests in this offering, either by reinvesting their principal and interest or by investing a different amount, will receive an interest rate “boost” as a thank-you for their early support of the Green Liberty Notes.

For more information about this investment opportunity, please visit invest.ctgreenbank.com.

 

Blue Hills Civic Association, Connecticut Green Bank Receive Grant and Technical Assistance to Finance Equitable Clean Water Infrastructure

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Grant Funds and Technical Assistance Provided by Coalition for Green Capital, PRE Collective, and Quantified Ventures via Robert Wood Johnson Foundation Investment in Equitable Water Infrastructure

 

WASHINGTON, DC — April 10, 2024 — Today, The Coalition for Green Capital (CGC), PRE Collective, and Quantified Ventures (QV) jointly announce their selection of six green banks from across the United States to receive $1.3 million in grants plus technical assistance to build a pipeline of equitable clean water infrastructure projects that directly benefit disadvantaged communities. This funding and technical assistance is a key component of an investment made by the Robert Wood Johnson Foundation (RWJF) in a strategic collaboration between CGC, PRE Collective, and QV to develop scalable financing programs for equitable water infrastructure.

CGC, QV, and PRE Collective are deploying their collective expertise to leverage the RWJF investment to support project development, provide technical assistance for implementation, and fund local staff capacity. These grants are among the programs to be implemented by CGC’s extensive green bank network to address water-related challenges, including clean drinking water, stormwater management, and flooding in disadvantaged communities. Green banks have a proven track record of removing perceived barriers and massively scaling up investments toward clean energy technology and these grants will lead the effort to replicate this approach for clean water investments to rapidly deliver benefits to communities most impacted by a changing climate.

This announcement follows the U.S. Environmental Protection Agency’s (EPA) recent selection of Coalition for Green Capital for an award of $5 billion from the Greenhouse Gas Reduction Fund’s National Clean Investment Fund competition to establish a national green bank. CGC’s national green bank represents a once-in-a-generation opportunity to shift financing interest toward other climate mitigation efforts, such as clean water infrastructure by reinforcing the critical role that green banks must play to reduce emissions, cut costs, and create jobs in communities across the country.

The six green bank initiatives will each receive approximately $216,000 in grant funding and technical assistance.

The Connecticut Green Bank, together with Blue Hills Civic Association and other community partners and stakeholders, will focus on opportunities to invest in equitable and climate resilient water infrastructure in Hartford. The Green Bank aims to increase stormwater management through both natural (i.e., parks) and built (i.e., homes) infrastructure solutions, to help revitalize Hartford’s parks as public health infrastructure, and to empower residents to access green solutions to increase their climate preparedness and resilience. To accomplish this the bank will leverage its Smart-E and Capital Solutions programs, expanding their financing capabilities from clean energy to include environmental infrastructure.

Leigh Whelpton, Director of Environmental Infrastructure, Connecticut Green Bank: “We are thrilled to use this support together with the Blue Hills Civic Association—Hartford’s oldest civic association—to empower homeowners in the North End and to enable stormwater solutions for increased climate resilience. This partnership is an exciting component of the Connecticut Green Bank’s expanded authority for environmental infrastructure.”

The other green banks receiving awards are the DC Green Bank, Groundswell Capital, the Hawaiʻi Green Infrastructure Authority, Missouri Green Banc (MGB) and SELF (Solar Energy Loan Fund).

Eli Hopson, Executive Director and Chief Operating Officer, Coalition for Green Capital: “By providing this funding the Robert Wood Johnson Foundation reinforces the role that a national green bank plays in mobilizing capital for climate mitigation efforts. These six green banks within CGC’s network are learning together how to deploy capital toward exciting water infrastructure projects in their pipeline that will directly benefit disadvantaged communities. Green banks have a role to play using public-private investment to mobilize capital for clean water using the playbook from the energy transition.”

Shalini Vajjhala, Executive Director, PRE Collective: “Multi-benefit, community-centered infrastructure projects are both the most exciting and challenging projects to design and finance. The Robert Wood Johnson Foundation’s investment in early-stage predevelopment with green banks is a transformational opportunity to reimagine how water infrastructure can serve as an entry point for climate action.”

 Tee Thomas, CEO, Quantified Ventures: “We are thrilled to work with these forward-thinking green banks, the communities they serve, and local partners to design programs and financial mechanisms that address regional water challenges. Their commitment to addressing environmental justice needs in under-resourced communities will change the trajectory of these communities for generations to come.”

Robert Wood Johnson Foundation Director of Impact Investments Kimberlee Cornett said, “At the Robert Wood Johnson Foundation, we know that challenges brought about by climate change will continue to affect the health and wellbeing of communities that have experienced a lack of investment. We’re proud to support this cohort of green banks with a goal of growing the technical know-how and financing of water infrastructure projects that support the health and wealth of communities.”

The full announcement can be found here.

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About Coalition for Green Capital
The Coalition for Green Capital (CGC), doing business as the American Green Bank Consortium, is a 501(c)(3) chartered specifically to reduce greenhouse gas emissions and other forms of air pollution and redress climate and energy-related environmental injustice. Green banks are a proven finance model that uses public and philanthropic funds to mobilize private investment in renewable energy, energy efficiency, and other decarbonization technologies. For over a decade, the Coalition for Green Capital has led the Green Bank movement, working at the federal, state, and local levels in the U.S. and countries around the world.

About PRE Collective

PRE Collective is a core group of public-service minded infrastructure and project development experts helping communities and regions make the most of transformational infrastructure opportunities. Our goal is to build collective momentum for equitable implementation.

About Quantified Ventures
Quantified Ventures (QV) – a certified B Corp – is a nationally recognized leader in implementing innovative funding and financing strategies for climate, environmental, and health projects. Our success stems from quantifying project outcomes, identifying untapped financial resources, and structuring innovative partnerships that engage new stakeholders. QV has worked extensively to provide technical assistance for establishing and administering water, energy, and climate financing programs.

About Robert Wood Johnson Foundation
The Robert Wood Johnson Foundation is committed to improving health and health equity in the United States. In partnership with others, we are working to develop a Culture of Health rooted in equity that provides every individual with a fair and just opportunity to thrive, no matter who they are, where they live, or how much money they have.

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Governor Lamont, Congressional Delegation Applaud EPA Awards To Reduce Carbon Pollution and Invest in Green Environmental Infrastructure

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(HARTFORD, CT) April, 4, 2024 – Governor Ned Lamont and the members of Connecticut’s Congressional delegation are applauding an announcement made today by the U.S. Environmental Protection Agency (EPA) that $5 billion from the Greenhouse Gas Reduction Fund, which was created under President Joe Biden’s Inflation Reduction Act, is being awarded to the Coalition for Green Capital, a consortium of organizations from throughout the country that includes the Connecticut Green Bank.

The Connecticut Green Bank will use the funding to catalyze public-private investments in the creation of environmental infrastructure in vulnerable communities to help reduce greenhouse gas emissions, lower energy costs for consumers, and increase resilience against climate change. Priority projects will include infrastructure in areas such as green schools, green school buses, green homes, green municipal and commercial buildings, green resilience hubs, land conservation and climate-smart agriculture, and other types of environmental infrastructure.

With this funding, the Coalition for Green Capital will partner with and expand an economically self-sufficient ecosystem of green banks, including the first-in-the-nation Connecticut Green Bank and community partners. By providing co-investment opportunities and other services as a national green bank, the coalition will accelerate the recycling of capital to maximize benefits.

This investment will stand up a first-of-its-kind national network that will finance tens of thousands of climate and clean energy projects across the country, especially in low-income and disadvantaged communities. Specifically, the EPA is awarding the grants as part of the act’s National Clean Investment Fund and Clean Communities Investment Accelerator.

Governor Lamont said, “This grant from the EPA will go a long way in supporting Connecticut’s efforts to build infrastructure that helps us reach our goals of reducing greenhouse gas emissions and making our state more resilient against climate change. On behalf of Connecticut, I thank President Biden, Vice President Harris, and EPA Administrator Regan for leading the Greenhouse Gas Reduction Fund process in a diligent, comprehensive, and inclusive manner. This award will help the Connecticut Green Bank increase and accelerate private investment in our state’s environmental infrastructure, especially in our vulnerable communities.”

Senator Richard Blumenthal said, “This $5 billion in federal funding is critical to building clean energy infrastructure and a more energy resilient Connecticut. The Connecticut Green Bank is doing transformative work in our state to fight climate change and protect our most disadvantaged communities from environmental injustice. I am proud to fight alongside the Connecticut delegation for strong investments like these that will tackle the climate crisis, reduce greenhouse gas emissions, and grow well-paying jobs.”

Senator Chris Murphy said, “Our state has set the national standard for green banks, and I’m thrilled to see this massive investment in the Connecticut Green Bank. This federal funding will help reduce greenhouse gas emissions, create good-paying jobs, and increase resilience in communities that have been the most impacted by climate change but have the fewest resources. It’s a win-win for the climate and our state’s economy.”

Congressman John B. Larson (CT-01) said, “Today’s announcement is an investment in good-paying jobs and unleashing America’s clean energy future. I am proud of the work the Connecticut delegation has done and will continue to do to secure funding to support the Connecticut Green Bank, which has been a model for the nation in the fight against climate change. This funding will build on their important mission to invest in innovative green energy solutions, protect residents from dangerous pollution, and uplift communities that have been disproportionately impacted by environmental injustices.”

Congressman Joe Courtney (CT-02) said, “When we talk about becoming more energy efficient, more energy independent, and better stewards of our environment, this is the kind of serious investment we need to achieve those goals. With the federal funding announced today from the Inflation Reduction Act, the Connecticut Green Bank will enable communities across the region to stand up more climate resilient infrastructure and projects that reduce greenhouse emissions.

Congresswoman Rosa DeLauro (CT-03) said, “This award to the Connecticut Green Bank, the nation’s first green bank, will accelerate investments in the clean economy, reduce emissions and improve the quality of life for all Americans. The intent of the Greenhouse Gas Reduction Fund was to ensure that entities like the Connecticut Green Bank can spread the benefits of the Inflation Reduction Act to underserved communities. Investments like the one today empower clean technology projects to create good-paying jobs and lower energy costs for American families, especially in low-income and disadvantaged communities, while cutting harmful pollution to protect people’s health and tackle the climate crisis.”

Congressman Jim Himes (CT-04) said, “The Connecticut Green Bank is an invaluable asset in the national effort to curb the effects of climate change and a key driver of our state’s transition to a clean energy economy. I’m thrilled to see $5 billion from the Inflation Reduction Act’s Greenhouse Gas Reduction Fund go to organizations like the Connecticut Green Bank to facilitate public-private investments in green infrastructure across the country. This award will help make our communities more resilient against extreme weather events, slash energy costs for residents, and limit our greenhouse gas emissions so that future generations may inherit a livable, vibrant planet.”

Congresswoman Jahana Hayes (CT-05) said, “Once again, Inflation Reduction Act funding will be coming back to our state through the Connecticut Green Bank. This legislation has a tremendous impact on Connecticut as we look to combat climate change, reduce carbon emissions and deploy clean energy infrastructure. I look forward to continuing the work to deliver wins for our state.”

Lonnie Reed, chair of the Board of Directors of the Connecticut Green Bank, said, “Over a decade ago, with support from the Coalition for Green Capital, we passed nearly unanimous bipartisan legislation establishing the nation’s first state-level green bank. Through the steadfast determination of our board and staff, with the support of Governor Lamont, Connecticut General Assembly, and Connecticut Congressional delegation, we have demonstrated in Connecticut how to deploy resources to attract and mobilize private investment that is creating jobs in our communities, reducing energy burden on our families and businesses, and confronting climate change, especially in our vulnerable communities.”

Bryan Garcia, president and CEO of the Connecticut Green Bank, said, “We know the economywide benefits of mobilizing investment in clean energy and environmental infrastructure projects can have a profound impact on families and businesses, especially those in vulnerable communities. Working with the Coalition for Green Capital, the Green Bank is ready to go to further mobilize private investment to achieve the EPA’s objectives of the National Clean Investment Fund.”

Glasco Heating & Air Conditioning, Inc. has been recognized perennially as a Top Performer in the Smart-E Loan program.

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Easterseals Capital Region & Eastern Connecticut Announces Facility Upgrades in Partnership with the Connecticut Green Bank

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Improvements are estimated to produce $1.3 million in savings over the lifetime of the upgrades

 

WINDSOR, Conn., March 28 — Easterseals Capital Region & Eastern Connecticut today announced that – using C-PACE (Commercial Property Assessed Clean Energy) financing through the Connecticut Green Bank – it has begun a clean energy upgrade project at its Deerfield Road facility in Windsor. The improvements to the 22,100-square-foot building include installing a 218 kW rooftop solar system, plus new lighting and controls. The estimated energy savings over the lifetime of the improvements are approximately $1.3 million.

“At Easterseals, we’re leading the way to full equity, inclusion and access through life-changing programs for children and adults with disabilities, active military and veterans,” said Robin Sharp, President & CEO of Easterseals Capital Region & Eastern Connecticut. “Not only will this project allow us to redirect our financial savings to enhance our programs, but it’s also a way to support future generations by tackling climate change right here in our building.”

Easterseals has always focused on elevating the community through its commitment to sustainability.  Established in 2008, its social enterprise, EnviroShred, is dedicated to the safe, secure and eco-friendly destruction of confidential data. EnviroShred also directly employs veterans and individuals with disabilities.

The project with the Connecticut Green Bank is being funded with approximately $714,000 in C-PACE financing. C-PACE is administered by the Green Bank and is specifically designed to finance green upgrades, such as energy efficiency improvements or adding renewable energy sources. Easterseals is also utilizing the Federal Investment Tax Credit (ITC) direct pay option through the IRS for this project. Direct pay allows tax-exempt and governmental entities access to expanded tax credits for clean energy technologies as a provision of the Inflation Reduction Act (IRA). This new provision means C-PACE and solar energy are now more accessible than ever to non-taxpaying organizations like Easterseals.

“As a nonprofit organization investing in clean energy improvements, Easterseals will have access to the same financial incentives as for-profit companies, thanks to the direct pay option,” said Mackey Dykes, Vice President of Financing Programs at the Green Bank. “Through this program, most nonprofits are eligible for tax incentives between 30 and 50 percent of the project’s total cost, meaning projects that were once impossible are now financially feasible Between this tax credit and our C-PACE financing, this project is a win-win for the Easterseals.”

Oxford, CT-based Facility Solutions Group, Inc. (FSG) will install the 218kW system, which is projected to be completed in the first half of 2024.

“We’re thankful for the opportunity to once again work with the Green Bank to bring much-needed renewable energy upgrades and cost savings to a Connecticut nonprofit,” said Kevin Siebrecht, Vice President of Solar Solutions at FSG. “We commend the mission and hard work of the entire Easterseals organization and are proud of their decision to pursue these improvements.”

 

To learn more about the Connecticut Green Bank, visit www.ctgreenbank.com. For more information about the Easterseals Capital Region & Eastern Connecticut, visit www.Easterseals.com/hartford.

 

About Easterseals Capital Region & Eastern CT
For nearly 75 years locally and 100 years nationally, Easterseals has been an indispensable resource for individuals with disabilities, veterans, seniors, and their families. Through high-quality programs, including medical rehabilitation, autism services, Veteran and Military services, workforce development, adult day care and more. Easterseals also operates social enterprise businesses such as EnviroShred and EnviroClean. In schools, workplaces, and communities, we are fostering environments where everyone is included and valued — making a real and positive impact on us all. Join us in ensuring that everyone – regardless of age or ability – is 100% included and 100% empowered.

Learn more at www.easterseals.com/Hartford and www.veteransrallypoint.com.

 

About FSG

FSG was founded in 1982, growing from a small lighting distributor in San Antonio Texas, to one of the nation’s largest lighting distributors and electrical contractors. Today, FSG employs more than 2000 employees nationwide and works with more than a thousand affiliate vendors from all four corners of the nation.  FSG’s customers list includes every type of business from top name multisite consumer brands, to general contractors, to local neighborhood businesses.