Seafood Powered by Sunshine: Westville Seafood Goes Solar

Popular New Haven restaurant adds solar using Connecticut Green Bank C-PACE financing

Hartford, CT (September 22, 2021) – The Connecticut Green Bank proudly announces that Westville Seafood, 1514 Whalley Ave, New Haven, has recently added a solar photovoltaic (PV) system to their roof using financing through the Commercial Property Assessed Clean Energy (C-PACE) program.

Westville Seafood has been serving customers with a variety of fried and grilled seafood dishes, as well as soups, salads, and sandwiches since 2008. The 32.56 kW solar system is projected to produce energy cost savings of more than $240,000 over the 25-year effective useful life of the panels.

“With our peak busy season being in the summer, we use a significant amount of energy to power the restaurant, which results in higher energy costs,” said David Austin, owner of Westville Seafood. “Going solar helped offset the cost of electricity, it’s more environmentally friendly, and our customers love it. We’re thankful for the help we received from the Connecticut Green Bank, who made the process easy.”

Westville Seafood in New Haven, CT and its 88 370W panel rooftop solar array.

“Restaurants use a lot of energy, so solar and energy efficiency upgrades can help their owners control their costs,” said Mackey Dykes, Vice President of Financing Programs at the Green Bank. “We are glad that Westville Seafood went solar, and we hope the visibility of their panels will get others curious about solar.”

For more information about the restaurant, please visit https://westvilleseafood.com/index.php.
For more information on C-PACE please visit www.cpace.com.

CastleGreen Finance Closes the Largest C-PACE Project in Connecticut

IRVINGTON, N.Y. — CastleGreen Finance is pleased to announce the closing of One Park Road, West Hartford, CT, a $13,767,000 Commercial Property Assessed Clean Energy (C-PACE) transaction. In partnership with Lexington Partners LLC, the property developer, and the Connecticut Green Bank, the program administrator for the state of Connecticut C-PACE program, CastleGreen Finance is delighted to be part of the largest C-PACE transaction to date in Connecticut.

Project Overview

For 135 years, the Sisters of St. Joseph of Chambéry have occupied a convent on Park Road in West Hartford, Connecticut. One Park Road is the redevelopment of this iconic property which will add a 292-unit multi-family housing complex on the 22-acre property while maintaining much of the greenspace and preserving the Sisters’ history and ensuring their retirement security at the property.

One wing of the historic convent will continue to be owned and occupied by the Sisters. The remaining 111,000 square feet of the Colonial Revival-style convent is undergoing renovation into a mix of studio, one-, two- and three-bedroom apartments.

A new 230,000 square foot four-story building over a one-story parking deck, will be connected to the existing structures and is designed to look like a series of separate buildings while providing a neighborhood feel.

The long-discussed redevelopment of this iconic property is the result of the partnership between the Sisters of St. Joseph, Lexington Partners, and the Town of West Hartford, and it will bring new rental housing to the fast-growing Park Road/West Hartford area. Construction on the $70 million project is scheduled to begin in mid-2021, with completion expected in the spring/summer of 2023.

CastleGreen Finance has facilitated approval of the $13.7 million C-PACE project through the Connecticut Green Bank’s C-PACE program. The project provides the project developer with access to affordable, long term financing for qualifying clean energy and energy efficiency upgrades that lower energy costs.

Martin J. Kenny, president of Lexington Partners, states, “We feel the Park Road business district is to West Hartford as Brooklyn is to New York City. The project will serve to strengthen the Park Road business district and provide a gateway to and combine with what is going on in Parkville. We needed creative financing in our capital stack to help bring this project to fruition. The CastleGreen team presented a compelling financing solution and delivered on time and as promised.”

C-PACE financing of clean, sustainable energy efficiency projects embraces the collaboration of public/private financing of energy improvements for the redevelopment of this iconic property.

Sal Tarsia, Managing Partner of CastleGreen Finance states, “Lexington Partners is a key player in the revitalization of the Park Road business district, creatively utilizing C-PACE financing for its ESG initiatives. It was a pleasure working with the Lexington team on a redevelopment which exemplifies the original purpose of what C-PACE was created for, but also respects and preserves the history of the property.”

“We are excited to see CastleGreen Finance closing their first project in Connecticut; the largest C-PACE project to date, in the state. This project is an excellent example of private capital working in the state’s open market for C-PACE financing,” said Bryan Garcia, President and CEO of Connecticut Green Bank. “The redevelopment at the Sisters of St. Joseph’s convent will not only make energy usage at the property more efficient and affordable, it will create housing opportunities and continue to support the Sisters, who strive to serve all people, especially those in need. This project will make a positive impact in West Hartford and exemplifies the Green Bank’s vision of a planet protected by the love of humanity.”

About CastleGreen Finance – www.CastleGreenfinance.com

CastleGreen Finance, in partnership with X-Caliber Capital, is a private capital source focused on Commercial PACE (Property Assessed Clean Energy) financing. CastleGreen Finance brings extensive experience in commercial real estate across a broad range of financial disciplines. The extensive real estate experience of the CastleGreen team, combined with its core C-PACE capabilities, provides our clients with the knowledge and resources to create a superior capital stack that meets all its needs and helps to unlock the potential of their commercial real estate. We understand that the most important part of any real estate transaction is showing up with the capital at closing. Our team focuses on the details of every deal to ensure we can get our clients to the finish line.

Running Brook Farms Adds Solar System to Power Their Business

Using a Rural Energy for America Program grant and C-PACE financing through the Connecticut Green Bank, the Killingworth business will save on their electricity costs

Hartford, CT (June 21, 2021) – The Connecticut Green Bank and Running Brook Farms in Killingworth are proud to announce the closing of Commercial Property Assessed Clean Energy (C-PACE) financing for the installation of a rooftop solar photovoltaic system at the property at 219 Route 80. The garden center and landscaping business has been in Killingworth for more than 50 years. In addition to a nursery and greenhouses, Running Brook Farms offers a complete range of landscaping services from design to construction. In 2019, Running Brook Farms became one of the first farms in Connecticut to grow hemp for the production of medicinal CBD oil.

“We have chosen to invest in solar technology simply because it is the right thing to do both for our business and the environment. We feel that is our responsibility to adopt more sustainable agricultural practices. In particular given the intense energy demands associated with indoor cannabis production, solar technology should be part of every growers’ sustainability plan!” said Scott Papoosha, owner of Running Brook Farms.

Running Brook Farms in Killingworth

The 47.52 kW solar system will be installed by Waldo Renewable Electric of Old Lyme, a solar contractor using the C-PACE program for the first time. The system is projected to produce energy savings equal to carbon sequestered by 450 tree seedlings grown for 10 years and gross total cost savings of more than $570,000 over the 25-year effective useful life of the panels.

Running Brook Farms was able to secure a Rural Energy for America Program (REAP) grant that covered 25% of the total project cost, with C-PACE financing covering the remainder. The Connecticut Resource Conservation & Development’s CT Farm Energy Program (CFEP) helped Running Brook Farms with one-on-one assistance in applying for the REAP grant. Since 2010 CFEP has assisted with the implementation of over $24 million dollars in energy projects in the state which equates to just under $5 million in REAP grants secured.

“Making farms resilient is more important than ever. Farms are not only stewards of the land but also providers of our food,” said Amanda Fargo-Johnson, CT Farm Energy Program (CFEP) Director. “Assistance from CFEP can help a farm create a sustainable plan for their energy needs, whether through energy efficiency upgrades or generating their own renewable energy. For some farms it’s one project for other farms it may mean multiple projects in phases to help them attain energy resilience.”

This project is also credited as the one that recently propelled Connecticut’s C-PACE program Commercial Property Assessed Clean Energy (C-PACE) program over the $200 million in clean energy investment milestone.

“I’m excited that Running Brook Farms is able to move forward with this solar project, and that they helped the program reach this milestone. Connecticut’s C-PACE program is the most successful in per capita deployment when compared to other state programs,” said Mackey Dykes, Vice President of Financing Programs at the Green Bank. “It takes a strong network of contractors, lenders, and building owners working together towards the goal of reducing building level emissions to make this happen.”

For more information on Running Brook Farms please visit https://runningbrookfarms.com/, or for information on their CBD products, visit https://runningbrookhempco.com/. Information on C-PACE can be found at www.cpace.com.

Connecticut’s C-PACE Program Surpasses $200 Million in Clean Energy Investment for Commercial & Nonprofit Properties

Rocky Hill, CT (May 11, 2021) – The Connecticut Green Bank has announced that the state’s Commercial Property Assessed Clean Energy (C-PACE) program surpassed $200 million in clean energy investment in local businesses. C-PACE is an innovative program that helps commercial, industrial and multifamily property owners access affordable, long-term financing to make smart energy upgrades to their buildings that can create immediate savings.

According to PACENation, the non-profit industry group that promotes Property Assessed Clean Energy (PACE) financing, Connecticut’s C-PACE program is the most successful in per capita deployment when compared to other state programs.  

“Connecticut’s C-PACE program has achieved yet another significant milestone, having now deployed more than $200 million into commercial and industrial clean energy projects,” said Colin Bishopp, PACENation’s Executive Director. “The state continues to lead at a time when local business owners need access to capital to make their buildings more efficient and their businesses more competitive. These are the types of investments that strengthen our economy.”

This $200 million supported nearly 340 closed projects, which will provide an estimated lifetime energy cost savings of $300 million, and reducing energy usage by over 5 million MMBTUs through efficiency upgrades and renewables, which resulted in over 42 megawatts of installed solar PV capacity. The implementation of these projects also created more than 2,000 direct and indirect job years. The lifetime energy savings of these projects is equal to the home energy use of 88,000 homes, or the avoidance of the use of 86 million gallons of gasoline for automobiles.

“The continued growth of C-PACE, particularly during the unique challenges created by the global COVID-19 pandemic, is a testament to many stakeholders working together to help property owners take advantage of a financing tool that helps them become more energy efficient and save money. With many businesses struggling, finding new ways of reducing expenses and becoming more sustainable was a top priority,” said Bryan Garcia, President and CEO of the Green Bank. “We know that businesses and nonprofits that lower their energy burden are better equipped to face ongoing challenges and help us transition into a greener, more prosperous future.”

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

Barker Specialty, Premium Promotional Product Provider, Goes Solar

Barker Specialty in Cheshire brings solar to 55 Realty Drive property through C-PACE financing

 

Hartford, CT (May 5, 2021) – The Connecticut Green Bank proudly announces that 55 Realty Drive in Cheshire has closed on Commercial Property Assessed Clean Energy (C-PACE) financing for the installation of a rooftop solar photovoltaic system. The 26,458-square foot office building is owned by sibling partners Amy, Gerald, Adrienne and Steven Barker, and is home to six tenants, including Barker Specialty Advertising Co. Inc.

“Barker Specialty is committed to help build a sustainable future for our community and planet. We mitigate our carbon footprint through environmentally conscious actions, and partner with suppliers who responsibly source products and materials,” said Gerry Barker, President of Barker Specialty. “Adding solar to our property helps us take another step to our goals.”

The 102.4 kW solar system will be installed by Verogy, a solar developer headquartered in Hartford. The system is projected to produce energy savings equal to the energy used by 212 homes in a year and gross total cost savings of more than $730,000 over the 25-year effective useful life of the panels.

“To reach our goal of continuous reduction of our carbon footprint, we have looked inward to what we could control through business operations and culture. This project is a giant leap towards showing how our buildings can also be a part of the solution,” said Jane Leukart, Director of Sustainability at Barker Specialty.

Barker Specialty has been the one-stop source for all promotional and marketing needs for over 70 years. Barker is a service oriented, innovative promotional marketing agency, specializing in promotional products, logoed merchandise, apparel, premium gifts, awards, tradeshow displays and signage.

“We are always excited to see businesses using C-PACE financing to advance their sustainability plans,” said Mackey Dykes, Vice President of Financing Programs at the Green Bank. “The installation of solar systems is a great way to reduce costs and improve the environmental footprint of a building.”

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

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River Haven Cooperative Upgrades Heating Efficiency, Charge Up CT Buildings Program Delivers Free Electric Vehicle Charger for Residents

Apartment complex will be the first C-PACE project to receive a free EV charging station through Connecticut Green Bank program

Hartford, CT (March 30, 2021) – The Connecticut Green Bank is pleased to announce the closing of Commercial Property Assessed Clean Energy (C-PACE) financing at River Haven Cooperative Apartments in Stamford to replace an existing steam boiler and condensing domestic hot water (DWH) system. The apartment building will also be the first property to receive a free electric vehicle (EV) charging station through the Green Bank’s Charge Up CT Buildings campaign, which provides EV charging stations to properties using C-PACE financing through the Green Bank for a qualifying project. The Green Bank anticipates the installation of the electric vehicle charging equipment will happen this spring.

“The EV charging station provided by Charge Up CT program is a significant additional benefit of working with Green Bank.  The needed new boiler along with the enhancement from the on-demand hot water system is core to our community,” said Paul Goeser, on behalf of the River Haven Board. “As we look to the future, the EV charging station will assist our community as we move forward with electric vehicle choices.”

Built in 1960, the River Haven Cooperative is a six-story brick building with 114 units. The $213,691 in C-PACE financing will be used to replace an existing steam boiler with a new steam boiler and a new condensing domestic hot water (DHW) system. The existing steam boiler serves the space heating as well as DHW requirements at the building in conjunction with a newer second steam boiler. The project involves re-piping the system allowing the steam boilers to only serve the space heating and no longer serve the DHW requirements. The boiler will be installed by Edgerton, Inc. Heating & Air Conditioning in Monroe. After completion, the project is anticipated to save more than $360,000 in cost savings and 20,000 mmBTUs of energy over the 20-year estimated useful life of the equipment.

“Projects like this one are a triple win,” said Mackey Dykes, Vice President of Financing Programs at the Connecticut Green Bank. “The residents win because they are using unique, affordable financing to improve the comfort of their home, while using the Charge Up CT program to add an EV charging station for their cars. We are reducing the carbon footprint of this multifamily building through C-PACE, which is a win for the environment. We also take another step towards cleaner, more reliable transportation.”

The EV charging station will be installed in the River Haven Cooperative’s parking lot, for the exclusive use of residents and their guests. The equipment is manufactured by EVSE LLC, a subsidiary of Control Module that is based in Enfield, Connecticut. Bonner Electric of Uncasville will install the system. The River Haven Cooperative board hopes that the installation of the charger will encourage and enable more residents to own electric vehicles.

The Charge Up CT Buildings campaign was implemented to encourage property owners making energy efficiency upgrades using C-PACE to further modernize their buildings with EV chargers, positioning them to meet the growing demand for charging. The Green Bank hopes to see more properties, including commercial and industrial properties, take advantage of the Charge Up CT Buildings program before the April 30 deadline.

Learn about the special free EV charging station offer at www.chargeupct.com and more about C-PACE at www.cpace.com.

Connecticut Green Bank Presents 2020 Awards

PACEsetters and Smart-E Loan Top Performers recognized for their successful efforts in our communities

                              

Rocky Hill, CT (February 24, 2021) – In recognition of their contributions to the deployment of clean energy and demonstrated leadership in their industries in 2020, the Connecticut Green Bank has announced the honorees of their annual PACEsetter Awards and the Smart-E Loan Top Performers. Since 2012, the Green Bank has supported the creation of more than 23,000 job years and over 50,000 clean energy projects, thanks to our network of contractors, interested home- and building owners, and lending partners.

“Connecticut’s clean energy workforce has been strong and growing since 2015, until the pandemic caused a major setback. While the path to a full recovery will be long, our contractors are safely back to work — creating jobs, combatting climate change, and reducing energy burdens for families and building owners across the state. With this backdrop, we are particularly excited to recognize these projects and contractors that highlight the diverse ways our programs made a difference in our communities in 2020,” said Bryan Garcia, President and CEO of the Green Bank. “From boutique inns, churches, and community centers, to our homes and neighborhoods, clean energy is powering our daily lives and helping us prosper. In the face of a challenging year, these leaders demonstrate that we can create a thriving future in Connecticut.”

PACEsetter Awards Recipients

The Connecticut Green Bank’s PACEsetter Awards 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. The award winners are a driving force behind the success of the Green Bank’s Commercial Property Assessed Clean Energy (C-PACE) program, which has surpassed 330 closed loans and $184 million in total close project financing that are estimated to save $295 million in energy costs. These are the sixth annual PACEsetter Awards. 

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 qualifying energy efficiency and renewable energy improvements that are repaid through a voluntary assessment. As the program grows, more Connecticut businesses achieve lower energy costs and increase their bottom-line.

The Green Bank acknowledged both contractors and building owners across multiple categories for their work in 2020:

Outstanding Projects, 2020

Con Edison Solutions and Bridgeport Islamic Community Center, for their 75 kW solar installation at the Community Center, a Purchase Power Agreement repaid through C-PACE, which is producing electricity and helping to reduce costs.

 

Omega Church in New Haven and Complete Building and Mechanicals of Guilford, for their HVAC and lighting project – Complete Building and Mechanicals first C-PACE project – which will help the Church maintain safe, healthy operations year-round.

Marriot Residence Inn in Stamford, for their new construction project which is an outstanding example of the ability of C-PACE to support ground up new construction projects in the hospitality industry. This is also an example of Connecticut’s thriving open market for C-PACE, as Greenworks Lending, an active capital provider, made nearly $6.5 million in financing available to support the Marriot’s plan during COVID-19 and the economic challenges that it created.


West Lane Inn, a boutique 17-room inn in Ridgefield, and Eastern Mechanical Services, Inc. of Danbury, an HVAC contractor serving Fairfield County since 1985, for their project that removed an old oil heating system and replaced with efficient electric heat pumps that harness renewable energy (heat) from the environment, reducing costs and increasing guest comfort. This was the contractor’s first C-PACE project.

 

Marcus Communications, for a first-of-its-kind C-PACE project at their communications tower in Bolton. The solar arrays installed will provide clean and reliable energy power for communication and emergency services to a variety of customers and clients. This is the first time that C-PACE has been used to finance a project at a communications tower in the United States, according to PACENation, a national nonprofit association that advocates for PACE financing.

 

Accelerating PACE, 2020:

Verogy, a commercial solar developer headquartered in Hartford that has integrated C-PACE into their business model and became the first developer to offer their own C-PACE-backed Power Purchase Agreement, demonstrating a transformative approach to the market.

 

Smart-E Loan Top Performers

For 2020, the Green Bank is recognizing 17 Smart-E Loan Top Performers. In 2020, the Top Performers helped over 250 families across Connecticut make home energy improvements – allowing them to save money, reduce their carbon footprint, and live more comfortably in their homes. The Smart-E Loan offers homeowners no money down, low-interest financing for more than 40 qualifying projects that reduce energy use and lower utility costs. Since 2013, the Smart-E loan has enabled more than 4,000 families to make improvements with a projected lifetime energy cost savings over $70 million.

In partnership with nine participating local lenders, the Top Performers’ projects surpassed $4 million in closed Smart-E Loans. Financed projects included insulation and window upgrades, high efficiency heating and cooling solutions, rooftop solar PV, health and safety improvements, and more.

The Smart-E Loan Top Performers were chosen based on criteria including more than just closed loans. These contractors worked hard to integrate the Smart-E loan into their training and marketing, while providing high-level customer service. Despite the challenges created by the pandemic, these contractors were able to continue to increase access to clean energy solutions for homeowners.

The 2020 Top Performers (in alphabetical order; * denotes 2019 Top Performer recognition):

Historic Inn Turns Up the Heat: The West Lane Inn Replaces Old Oil Burning System with Energy Efficient Electric Heat Pumps

Using C-PACE financing through the Connecticut Green Banks, The West Lane Inn takes advantage of immediate energy and monetary savings

Ridgefield, CT (Jan. 27, 2021) – The innkeepers of The West Lane Inn in Ridgefield and the Connecticut Green Bank are pleased to announce the completion of a Commercial Property Assessed Clean Energy (C-PACE) financed energy efficiency project at their inn, located at 22 West Lane. The project replaced an old oil-burning heat system with a new heat pump system designed to handle the heating and cooling needs of the 17-room historic property.

The innkeepers, Christine Carnicelli and Danille Petrie, who purchased the inn in the fall of 2019, are working hard to balance the colonial charm of the 1840s building with the need for modern amenities. As they are making cosmetic changes to the inn, they realized an upgrade was needed on their boiler.

“When guests come to stay at our inn, we want them to have the most relaxing, cozy experience possible. By adding a new heat pump system, we are able to keep rooms comfortable all year long,” said Christine. “The new system is also more energy efficient, and better for the environment, which fits with Ridgefield’s country surroundings.”

Eastern Mechanical Services, Inc. of Danbury, an HVAC contractor serving Fairfield County since 1985, installed the new equipment. The balance of the project cost, after utility incentives and owner equity, will be paid off over 10 years through the C-PACE assessment. This allows the owners to reap the energy saving benefits immediately while paying for the improvement over time. While the heat pumps will increase electricity usage, the system is replacing a more expensive oil system, which creates an overall energy cost savings that could exceed the project cost over the estimated useful life of the new equipment.

The new in-room units are much smaller (and more efficient) than the previous units.

“We are always excited when a new type of property, in this case a boutique inn, takes advantage of C-PACE to improve their energy efficiency. This is also a great example of progress toward the State’s goal of electrifying buildings,” said Mackey Dykes, Vice President of Financing Programs at the Connecticut Green Bank. “Commercial properties of all sizes should look at their HVAC systems for opportunities to unlock savings.”

While COVID-19 created new challenges for the innkeepers in 2020, they are hopeful about the future.

“We know that people are anxious to start travelling again and enjoying communities like Ridgefield. Our inn is ready to accommodate their stays and their events, especially in warmer months,” said Danille. “Our new heat pumps also provide air conditioning!”

Learn more about the West Lane Inn at https://westlaneinn.com/.  Learn more about the C-PACE program at www.cpace.com.

About the Connecticut Green Bank

The Connecticut Green Bank was established by the Connecticut General Assembly in 2011 as the nation’s first green bank. The Green Bank’s mission is to confront climate change and provide all of society a healthier, more prosperous future by increasing and accelerating the flow of private capital into markets that energize the green economy. This is accomplished by leveraging limited public resources to scale-up and mobilize private capital investment into Connecticut. In 2017, the Connecticut Green Bank received the Innovations in American Government Award from the Harvard Kennedy School Ash Center for Democratic Governance and innovation for their “Sparking the Green Bank Movement” entry. For more information about the Connecticut Green Bank, please visit www.ctgreenbank.com

 About the West Lane Inn

The West Lane Inn, built in 1849, combines the charm of an intimate country inn with many conveniences of a hotel. For those seeking a special getaway, we are situated in the historic district of Ridgefield, CT, one of New England’s most scenic colonial towns. With 17 beautifully appointed rooms, guests may choose from three different room layouts all with charming decor and private bath.

Deadline Extended on Program Offering Free EV Charging Stations to Commercial Properties Using C-PACE Financing for Efficiency Projects

Charge Up CT Buildings campaign pairs growing EV demand with need for property efficiency

Rocky Hill, Conn. (December 16, 2020) – The Connecticut Green Bank announces a deadline extension on its Charge Up CT Buildings program, an initiative that offers free electric vehicle (EV) charging stations to commercial property owners who use Connecticut Green Bank C-PACE financing. The new deadline is April 30, 2021. Originally launched in January 2020, the initiative was put on hold in March due to COVID-19 restrictions and restarted in September.  With dozens of inquiries already submitted, the Green Bank anticipates many other property owners will express interest in the coming months.

C-PACE (Commercial Property Assessed Clean Energy) is an innovative financing tool that provides building owners with access to 100% financing for energy improvements, realize positive cash flow immediately, and create more comfortable, efficient buildings. C-PACE can also support building owners in reducing operating expenses and increasing cash flow, providing a vital lifeline to help businesses get through tough economic times. Plus, the Green Bank is currently offering flexible payment options for new borrowers that let them choose to defer or pay interest-only on initial payments, offering borrowers ways to improve their building and save energy while freeing up cash and receiving immediate financial relief.

The addition of free EV charging equipment means property owners leveraging C-PACE won’t just be using the clean energy financing mechanism as a tool to improve their financial position in the near term, but also to modernize their buildings and position them more competitively in the future. Whether building tenants are commercial or residential, as the EV market continues to grow, properties with charging stations can lead the way.

To qualify for a free EV charging station, energy saving projects must utilize at least $150,000 in Green Bank C-PACE financing with at least 20% of the total project costs going toward non-renewable measures. Larger projects may be eligible to receive up to three electric vehicle charging stations. Connecticut Green Bank’s C-PACE team will work with building owners to determine if their project is eligible for the C-PACE program and Charge Up CT Buildings incentive. 

For more information about the initiative, please visit https://chargeupctbuildings.com/  or call 866-324-0099.

Communications Tower in Bolton First Known in U.S. to Use C-PACE Financing to Install Solar Array

Environmentally-conscious tower owner Marcus Communications will benefit from significant energy savings

Rocky Hill, CT (Dec. 14, 2020) – The Connecticut Green Bank is pleased to announce the closing of Commercial Property Assessed Clean Energy (C-PACE) financing for the installation of a ground-mounted solar photovoltaic (PV) system at a 450-foot telecommunications tower owned by Marcus Communications LLC. Located in Bolton, the tower and support equipment provide communication services, including emergency services, to a wide array of customers and clients. This is the first time that C-PACE has been used to finance a project at a communications tower in the United States, according to PACENation, a national nonprofit association that advocates for PACE financing

“As the first use of PACE on a communications tower, this innovative project is a model for how PACE can be used to increase the sustainability of our critical infrastructure. We applaud the work of the Green Bank in completing this project and look forward to seeing more deals like this one,” said Colin Bishopp, Executive Director of PACENation.

The tower was originally constructed in 1995 and extended in 2005, going from a 300-ft to 450-ft, to become the tallest tower in Eastern Connecticut. In recent years, leaders at Marcus Communications have begun an initiative at their office to minimize the company’s impact on the environment through improvements such as installing energy efficient lighting, solar panels, heating and cooling systems, and by providing free electric vehicle charging to employees, vendors and customers.

“We continue to be proactive in our efforts to be environmentally responsible and actively pursue solutions and enhancements that support that vision,” said Bruce Marcus, CTO, Marcus Communications LLC. “This solar project is a great example. We are proud of the work we are doing to move the world towards renewable energy.”

The 76 kW-AC solar PV system will be installed by Marcus Communications with guidance from Harness the Sun LLC of Lebanon. The project is estimated to save the company more than $740,000, over the 25-year effective useful life of the panels. The total project cost is approximately $250,000.

“It’s exciting to see new types of properties taking advantage of C-PACE financing to improve their energy efficiency or add renewables,” said Mackey Dykes, Vice President of Financing Programs at the Connecticut Green Bank. “We hope that other communications companies follow the example that the team at Marcus has set.”

To see a video of the installation, please visit https://youtu.be/AXQT–XNxec

About the Connecticut Green Bank

The Connecticut Green Bank was established by the Connecticut General Assembly in 2011 as the nation’s first green bank. The Green Bank’s mission is to confront climate change and provide all of society a healthier, more prosperous future by increasing and accelerating the flow of private capital into markets that energize the green economy. This is accomplished by leveraging limited public resources to scale-up and mobilize private capital investment into Connecticut. In 2017, the Connecticut Green Bank received the Innovations in American Government Award from the Harvard Kennedy School Ash Center for Democratic Governance and innovation for their “Sparking the Green Bank Movement” entry. For more information about the Connecticut Green Bank, please visit www.ctgreenbank.com

About Marcus Communications

Marcus Communications was founded in 1969 in Connecticut by owner, CTO, and LMR industry innovator Bruce Marcus. While the technology from 1969 to today has changed completely, our core mission remains the same. We manage your communications with an innovative array of technical solutions. Over the years, we’ve helped thousands of customers achieve better safety and efficiency by supercharging their communications. When you choose Marcus, you’re not choosing just any communications company. Your choosing the premiere leader in communications. Your choosing a company that hires veterans and gives back to the community, supporting events like the Hartford Marathon or the Special Olympics. You’re choosing the leaders who work tirelessly to research and develop cutting-edge solutions for its customers. To learn more, please visit https://www.marcuscommunications.com/.