Joe Kennedy III Dedicates First-of-its-Kind Microgrid

THURSDAY, SEPT. 15, 2022 – NEW BRITAIN, CT – A one-of-a-kind microgrid was switched on today to power four critical community facilities at the Daughters of Mary of the Immaculate Conception campus.

Former U.S. Rep. Joseph P. Kennedy III, now managing director at Citizens Energy Corporation, was today joined by Mayor Erin E. Stewart of New Britain, CT DEEP Acting Deputy Commissioner of Energy and Technology Policy Vicki Hackett, Schneider Electric VP of Microgrids Don Wingate, Mother Mary Janice Zdunczyk from the Daughters of Mary, and Connecticut Green Bank CEO Bryan Garcia to dedicate the unique microgrid.

The project was named in honor of the late Mother Mary Jennifer Carroll, who first led the order down the path of sustainable energy development. The first installation, a solar array, was completed five years ago and is now a key component of the campus microgrid to serve its senior living facilities.

“We are so proud to celebrate this massive feat for renewables today,” said Kennedy, who recently joined Citizens Energy to develop new business opportunities. “My father founded this company to be a change maker. Not only are we fulfilling our mission to make life’s basic needs more affordable, but we are building the clean energy projects that others only talk about. This may be the first of its kind, but it won’t be the last!”

The project transforms the 137-acre campus into a groundbreaking renewable energy hub, using green energy to power four standalone buildings and reduce energy costs for the organization. The $7 million project ensures that the critical institution will be able to provide much-needed social services and senior care through emergencies that threaten the local electric grid. 

“Throughout my entire time as Mayor we have placed an emphasis on making New Britain a greener, more sustainable City,” said Mayor Erin E. Stewart. “This microgrid project fits in perfectly with that mission and we appreciate the Daughters of Mary for their efforts to help New Britain reduce its environmental footprint.”

“We, the Daughters of Mary, are so proud and pleased to play a role in such an important and viable environmental issue,” said Mother Mary Janice Zdunczyk. “We are grateful to Mother Mary Jennifer for her vision and foresight to pioneer into unchartered territory and achieve such innovative and financial success. We also wish to thank her ‘silent partner,’ Karen Kulak, for her due diligence in pursuing this unique battery concept and working alongside of Mother Jennifer, during and after, to see it to completion.”

The innovative design combines 1.4 megawatt hours of battery storage capacity with a total of 1.2 megawatts of solar generation to create a completely self-sufficient system. This unique technology utilizes funding provided by a grant from the State of Connecticut administered by the Connecticut Department of Energy and Environmental Protection (DEEP) in the amount of $3.9 million, the largest-of-its-kind for microgrid development to be completed. The project is also the state’s first microgrid capable of operating on 100% renewable energy around the clock in island mode.

“I applaud the pioneering vision of the Daughters of Mary to continue innovating the energy system on their campus,” DEEP Commissioner Katie Dykes said. “This advanced microgrid is the first in Connecticut to combine solar panels and battery storage to provide an extra layer of resilience for up to 19 days of continuous power to ensure that the important care and services the Daughters of Mary provide can continue during a power outage.”

This state-of-the-art technology is essentially four individual microgrids that deploy groundbreaking engineering work to allow the individual systems to remain grid-tied, island independently, or share electrons and island together as one larger microgrid. The installation also includes a 250 kW natural gas generator for emergency use. This first-of-its-kind solution is also Citizens Energy’s first project with its strategic alliance partner, Schneider Electric.

“On behalf of the full team at Schneider Electric, we’re honored to have been selected as a trusted alliance partner to make this incredibly dynamic project come to life,” shared Don Wingate, Vice President of Microgrids at Schneider Electric. “We’re thrilled to bear witness to the positive impact of this one-of-a-kind microgrid on the critical care facilities that support families in crisis as it reduces the energy costs for the entire campus community.”

The innovative technology was developed through the Connecticut Green Bank’s Commercial Property Assessed Clean Energy (C-PACE) program. The nation’s first green bank offers this unique financial model that lets you pay for green improvements over time through a voluntary benefit assessment on your property tax bill. C-PACE makes it easier for building owners to secure low-interest capital to fund energy improvements.

“This project exemplifies the Green Bank’s vision for a ‘planet protected by the love of humanity,’ as the energy savings from this system allow the Daughters to enhance their mission of caring for those in need,” said Bryan Garcia, President and CEO of the Connecticut Green Bank. “When I met Mother Jennifer at the first ribbon cutting five years ago, her words were a source of inspiration helping connect our work in green energy to the human impact in our communities. Congratulations to everyone who made this project happen.”

Two local Connecticut companies, Ecosolar Installations and Associated Real Estate Services, have also played instrumental roles throughout the development cycle, assisting with the grant process as well as local stakeholder management. Ecosolar served as the primary construction lead, responsible for the site work, construction and electrical work associated with all aspects for the project including solar, storage, natural gas generator and controls. Both companies continue to support the project.

 

About Citizens Energy

Citizens Energy Corporation is a Boston-based nonprofit founded by former U.S. Rep. Joseph P. Kennedy II. Under his leadership as chairman and president, Citizens Energy has compiled a 40-plus-year history of channeling revenues from successful energy ventures in oil, natural gas, electricity trading, energy efficiency and conservation, transmission, wind power and solar arrays to programs that help the poor.

 

About CT DEEP

The Connecticut Department of Energy and Environmental Protection (DEEP) is charged with conserving, improving and protecting the natural resources and the environment of the state of Connecticut as well as making cheaper, cleaner and more reliable energy available for the people and businesses of the state. The agency is also committed to playing a positive role in rebuilding Connecticut’s economy and creating jobs – and to fostering a sustainable and prosperous economic future for the state.

 

About Schneider Electric

Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency. 

We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values. www.se.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 and has since supported the creation of more than 26,000 green energy jobs in the state, while reducing the energy cost burden on over 66,000 families, businesses, and nonprofits. The Green Bank’s vision is a planet protected by the love of humanity and its mission is to confront climate change by increasing and accelerating investment into Connecticut’s green economy to create more resilient, healthier, and equitable communities.

– END –

Smart-E Summer Special Provides Low Rate Financing for Heat Pumps, Battery Storage, and EV Charging

Hartford, CT (July 1, 2022) – For a limited time, homeowners installing heat pumps, battery storage, or EV charging stations are able to get a low 2.99% interest rate with a summer special Smart-E loan.  Borrowers earning less than 100% State Median Income (SMI) are able to get a 1.99% rate (SMI limits by household size can be found here).

Improvements eligible for this special are installation of battery storage systems, level two electric vehicle charging equipment, and heat pumps.

For battery storage, standalone installations or batteries paired with new or existing solar PV systems with qualify. (solar PV is not part of this special, but could be financed with a blended rate). Contractors installing batteries must be approved to participate in the Energy Storage Solutions program, an incentive program for Eversource and UI customers.

For heat pumps, a number of technologies are available, including ductless mini splits, ducted air source heat pumps, ground source heat pumps (geothermal), heat pump water heaters, and solar hot water heaters.

The Smart-E Loan is made available through a network of participating local banks, credit unions, and a community development financial institution (CDFI) across the state. Smart-E Loans through this special offer are available for terms of 5, 7, and 10-years.

For more information, please visit https://www.ctgreenbank.com/smartesummerspecial/ .

Budderfly Receives $5 Million in Financing from Connecticut Green Bank

Connecticut-based Budderfly helps franchises and other businesses improve their energy efficiency, lowering their operating costs

Hartford, CT (June 28, 2022) – The Connecticut Green Bank today announced $5 million in secured loan facilities to support the market expansion of Budderfly, a Connecticut-based company providing a unique energy management solution. Budderfly has provided its energy and cost saving services to over 80 Connecticut businesses, primarily quick service restaurants, convenience stores, and healthcare facilities, and intends to use the loan to continue to expand its Connecticut customer base.

“We are proud to be a Connecticut company and leading clean technology business in the state,” said Al Subbloie, Founder & CEO of Budderfly. “Our business was built very intentionally around the dual goals of saving money and lowering carbon emissions for small and medium-sized businesses. Over the past fifteen years, we’ve achieved these goals for nearly 100 Connecticut businesses. Among our top achievements in the state, Budderfly is helping Ryders Health Management’s Mystic Facility hit near net-zero carbon emissions through energy efficiency and on-site renewables at no up-front cost. We look forward to continuing to grow our scale and impact with the support of the Connecticut Green Bank. With their recent support, we’ve now raised over $100 million in capital to serve our customers and scale our business.”

Budderfly’s model is uniquely simple. Budderfly provides energy-saving equipment for its customers, assuming responsibility for logistics, up-front capital, and other associated risks for the business owners it serves. Budderfly brings extensive knowledge of energy-saving technologies for refrigeration, lighting, HVAC, and more as well as tremendous experience retrofitting spaces to bring immediate energy improvements to its customers. Budderfly then keeps the buildings it services running smoothly with 24/7 monitoring, analytics, and ongoing maintenance.

The company was awarded the funding through the Green Bank’s Capital Solutions Open RFP, which is open to companies and technologies that have proven commercially viable or have strong business models, with the ability to rapidly achieve sustainable impact at scale. A significant portion of Budderfly’s existing portfolio is in Connecticut, and it is committed to maintaining and growing its in-state customer base.

“The Green Bank is excited to support Budderfly’s innovative and successful approach to addressing energy waste in commercial businesses,” said Bert Hunter, Chief Investment Officer of the Connecticut Green Bank. “We see our participation as supplementary and complementary to the existing financial support from private capital and other Connecticut government funding for a local based company in the process of achieving significant scale in the energy as a service sector in the commercial market, particularly with small business franchise operations that have unique challenges when it comes to investing in energy efficiency.”

The Connecticut Green Bank provided Budderfly with a six-year $5 million loan. Connecticut Innovations, the state’s venture capital arm, has invested $5.6 million since June 2019. The Department of Economic and Community Development has also provided loan capital to Budderfly tied to achieving economic development goals for the state.

The Green Bank believes that continued discussions with Budderfly will attract additional commercial bank partners and lower its cost of capital, to further expand its environmental and economic impact in Connecticut.

To learn more about Budderfly, please visit https://www.budderfly.com/.

Enhancements to C-PACE for New Construction Announced

Improvements to State’s Commercial Property Assessed Clean Energy (C-PACE) program provide developers, capital providers, and borrowers easier access to financing

 

Hartford, CT (April 12, 2022) – Changes to the guidelines for Connecticut’s Commercial Property Assessed Clean Energy (C-PACE) program will create enhanced opportunities for developers of new construction, repositioning, and gut rehabilitation projects to take advantage of this innovative financing tool. Developers and borrowers can access up to 35 percent of the total eligible construction costs (TECC) in C-PACE financing based on the building’s designed energy performance. Typically, C-PACE financing offers a lower cost capital than other types of debt and equity comprising the capital stack on these projects, generally allowing for an overall lower weighted cost of capital. The changes were approved on March 25 by the Board of Directors of the program administrator and lender Connecticut Green Bank.

Key enhancements to the technical standards and approval process for C-PACE financing for new construction, repositioning, and gut rehabilitation projects:

  • The minimum energy performance threshold to access C-PACE financing has been lowered.
  • Projects must be designed above code (5 percent above IECC 2021 or 10 percent above IECC 2018 and prior) to receive C-PACE financing up to 20 percent of TECC.
  • An additional, more rigorous option has also been added to promote even higher energy performance above code and access to greater C-PACE financing. Construction either 10 percent above IECC 2021 or 20 percent above IECC 2018 & prior unlocks up to 25 percent of the TECC in C-PACE financing.
  • Developers have the option of accessing an additional 5 percent in TECC financing by incorporating two bonus technologies into the project design or an additional 10 percent for adding four bonus technologies.
  • Developers can also design projects to be all-electric and to achieve net zero to access 35 percent of TECC in financing.
  • In order to demonstrate the level of energy performance above code, projects will use a whole building energy model approach. In addition, eligible Multifamily properties will also have the option to use the HERS Index as a pathway to demonstrate the project meets minimum energy performance levels. Since many new multifamily properties are using HERS Index to access incentives through the Residential New Construction Program run by the Connecticut utilities, this change should allow greater access to financing for these projects.

“We believe these revisions to our approval process for new construction projects will encourage developers to design projects to higher energy performance goals and provide greater access to C-PACE financing,” said Mackey Dykes, Vice President of Financing Programs of the Green Bank.

The bonus technologies were chosen to promote emerging clean energy technologies, resilience, state policy goals, and energy transition goals. These technologies include electric vehicle charging stations, battery storage systems, high-efficiency heat pumps and heat pump water heaters, fuel cells, and solar photovoltaic systems. Since originally launching as a pilot in 2018, six new construction projects have closed for a total of more than $27 million in C-PACE financing. These projects included three multifamily properties, two hotels and one office building, highlighting the fact that C-PACE can work for buildings of all types. The revisions to the program are expected to decrease barriers and enable more projects to use C-PACE financing.

The Green Bank will also continue to offer C-PACE financing for energy efficiency and solar projects on existing buildings based on its existing processes, a popular option for building energy retrofits that will help more than 350 Connecticut businesses and nonprofits save over $300 million in energy costs.

For more information about how C-PACE financing can support new construction, repositioning, and gut rehabilitation projects, please contact the Green Bank at www.cpace.com/contact.

2021 Post-Issuance Green Bond Report released

Feb. 22, 2022 – The Connecticut Green Bank has released its 2021 Post-Issuance Green Bond Report that contain the third-party verifier’s reports on the use of funds as well as internal reporting regarding the impact of the funds raised through our bond issuances. This report includes the 2020 and 2021 Green Liberty Bonds that were back by Solar Home Renewable Energy Credits (SHRECs). The Green Bank views Green Bonds as a key tool to raise the needed capital to confront climate change and other pressing environmental issues. Bond issuances are a cost-effective method for sourcing capital, and, as we demonstrated through the Green Liberty Bonds issued in 2021, are an excellent opportunity to engage the community. Through these Bonds, we grow awareness of climate issues and provide a way for more people to invest in solutions. We truly believe that green, the environment, bonds (unites) us.

The report can be accessed here:  https://www.ctgreenbank.com/strategy-impact/reporting-transparency/

Connecticut Green Bank surpasses $2 billion in total investment into state’s green economy

Fiscal year 2021 annual report highlights 10 years of cumulative success of nation’s first green bank

 

Hartford, CT (Feb. 14, 2022) – In fiscal year 2021, the Connecticut Green Bank exceeded $2 billion of cumulative investment in the state’s green economy, according to the Green Bank’s recently released annual report. Since July 2011, the Green Bank has mobilized $288.4 million in public dollars to attract $1.85 billion in private investment, a leverage ratio of $7.40 for every $1.

The Green Bank measures the impact of the deployment of renewable energy and energy efficiency to families, businesses, and communities in terms of economic development, environmental protection, equity, and energy (E4 metrics). These statistics can be found on page two of the annual report.

“Our annual report, as well as our annual Comprehensive Financial Report, provides us with an opportunity to share our accomplishments and progress towards achieving our E4 metrics’ goals while demonstrating our commitment to transparency. We develop and promote these reports so that our elected officials, investors, Connecticut residents and businesses, industry leaders, and other key stakeholders can see the positive impact Connecticut’s green bank is making in our communities,” said Bryan Garcia, President and CEO of the Green Bank.

Some highlights of the fiscal year 2021 include:

  • The Residential Solar Investment Program (RSIP) surpassed its public policy target of 350 megawatts of solar deployment one year ahead of schedule, with $1.33 billion of investment and more than 43,000 homes adding solar. The program has ensured equitable access for low-to-moderate income families, making Connecticut a “solar with justice” state.
  • A second successful issuance of Green Liberty Bonds sold nearly $25 million of bonds to retail and institutional investors in the two-day period, with almost $100 million in demand, in April 2021.
  • The Smart-E Loan, which allows homeowners to finance energy upgrades improvements through a network of local community banks and credit unions, surpassed $100 million of investment.
  • The State’s Commercial Property Assessed Clean Energy (C-PACE) program exceeded $200 million of total investment across more than 348 energy efficiency and renewable energy projects.
  • More than $100 million of investment to deploy solar on nearly 200 commercial and industrial buildings, including state and municipal facilities and nonprofit organizations.

To access the FY21 report, please visit https://www.ctgreenbank.com/fy21-annual-report/ and watch our short videos on our progress on investment, environmental impact and economic impact.

 

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.

Statement on the Passage of House Bill 6441

As we approach our 10th anniversary on July 1, 2021, the Connecticut Green Bank is incredibly excited that Governor Lamont’s House Bill 6441, with bipartisan support, will advance the green bank model that we have pioneered to extend beyond clean energy to now include environmental infrastructure. This increased scope will encompass structures, facilities, systems, services, and improvement projects related to water, waste and recycling, climate adaptation and resiliency, agriculture, land conservation, parks and recreation, and environmental markets such as carbon offsets and ecosystem services.

We extend our gratitude to state policymakers for expanding the Green Bank’s mission to confront climate change beyond the clean energy sector. We want to thank many key parties for their leadership and support of this scope expansion:

  • The Governor’s Office and the Governor’s Council on Climate Change (GC3), for their extensive work and community building on this important topic.
  • The Department of Energy and Environmental Protection, especially Commissioner Katie Dykes and Dr. Rebecca French, Director, Office of Climate Planning, who have been leading a stakeholder and public engagement process to support Connecticut’s efforts to confront climate change.
  • The Office of Policy and Management (OPM), specifically Secretary Melissa McCaw and Claire Coleman, Undersecretary for Legal Affairs, who brought the GC3 proposal into a Governor’s bill on climate change.
  • Senator Christine Cohen and Representative Joseph Gresko for their leadership on the Environment Committee.
  • Leaders of the Banking Committee, who championed a similar proposal in 2019, and the Energy and Technology Committee, who have been steadfast partners in their support for the Green Bank’s mission over the last decade.
  • Many mission-aligned groups in Connecticut, including the Audubon Connecticut, The Nature Conservancy, CT Land Conservation Council, Save the Sound, CT Forest and Park Association, CT Conservation Districts, CT Conference of Municipalities, and the CT Council of Small Towns, who were partners in advocating passage of this legislation.

In addition to the scope expansion, this passage creates an Environmental Infrastructure Fund within the Green Bank; increases bonding terms for clean energy and environmental infrastructure projects; and increases, from 80% to 100%, the amount of financing Green Bank and other non-equity financing sources can provide to projects.

Upon Governor Lamont’s final approval of this legislation, we look forward to building upon our last 10 years of success by implementing this policy and by meeting its promise in helping Connecticut mitigate and adapt to climate change.

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.

###