Malibu Fitness Installs Solar System with C-PACE Financing

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

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

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

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

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

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

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

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