Barkhamsted manufacturer received a grant through DECD’s Manufacturing Innovation Fund to help reduce the installation costs.
HARTFORD, Conn (Jan. 2, 2024) – The Connecticut Green Bank is pleased to announce the closing of C-PACE financing for a solar PV system and roof upgrade project at Air Realty Group LLC’s 78,450 square foot property at 236 New Hartford Road in Barkhamsted. The 293.76 kW capacity system is projected to save Sterling Engineering Corporation, more than $1.6 million in electricity costs over the 20-year term. The solar system will be installed by Verogy.
Sterling is part of Air Industries Group and traces its roots to 1941 when it began producing parts for WW-II fighter aircraft, most notably the Chance Vought assembled in Bridgeport, CT. The Company now produces parts and assemblies for Pratt & Whitney, GE Aviation and GE Power jet turbines and Sikorsky helicopters.
Lou Melluzzo, Chief Executive Officer commented: “We are very pleased to participate with Connecticut Green Bank and Verogy in the solar project at our Sterling Engineering facility. Working collaboratively, this team facilitated the smooth transition to renewable energy, which ensures that we will both reduce energy costs and support green initiatives.
Programs such as this demonstrate why the state of Connecticut is at the forefront of U.S. manufacturing, producing vital products and services, and continuing to develop a dedicated and sustainable workforce. We have been manufacturing in Connecticut for over 80-years and look forward to a bright future.”
As a manufacturer, Sterling was also able to access a grant through the Energy on the Line campaign. Between 2016 and 2023, Energy on the Line grants have helped manufacturers across the state invest in solar and energy efficiency using C-PACE financing. Energy on the Line was funded by the Manufacturing Innovation Fund, which is administered by the Connecticut Department of Economic and Community Development (DECD). In total, the campaign provided $672,508 in grants to 30 Connecticut manufacturers who are projected to avoid more than $25 million in energy costs over the effective-useful life of the new equipment.
“Driving energy efficiency and reducing CO2 emissions is critical in the CT manufacturing sector. We are proud to support Sterling Engineering Corp/Air Industries as they expand their operations in Barkhamsted. The Green Bank is a great partner for the Office of Manufacturing – Department of Economic and Community Development as we drive manufacturing growth and provide opportunities for manufacturing companies to grow, create jobs and reduce energy costs,” said Paul S. Lavoie, Chief Manufacturing Officer, State of Connecticut.
C-PACE (Commercial Property Assessed Clean Energy) retrofit financing allows building owners to install green energy upgrades today and pay for them over time. This results in energy improvements that can be cash flow positive in year one. To date, nearly 400 projects have been financed using C-PACE with building owners projected to save more than an estimated $400 million in energy costs over the life of their upgrades.
“In 10 years, the C-PACE program has made a significant impact for building owners seeking affordable long-term financing for their energy-related projects. Specifically, we have seen energy-intensive businesses like manufactures reap the benefits from the cost savings provided through solar,” said Mackey Dykes, Vice President of Financing Programs at the Green Bank. “Partners like DECD and reliable contractors have been instrumental in the program’s success.”
“Verogy is proud to help Sterling strengthen their competitiveness and lower their costs by adopting solar,” said Will Herchel, Verogy’s CEO. “The Sterling team is setting a great example for other Connecticut manufacturers who want to control their expenses while making their operations even more sustainable. It’s a great project and we look forward to bringing even more clean energy to Barkhamsted and Connecticut.”
Learn more about the success of the Energy on the Line campaign here: https://www.ctgreenbank.com/wp-content/uploads/2023/11/Energy-On-The-Line-Campaign-Success-12-20-2023.pdf.
Learn more about C-PACE at https://www.ctgreenbank.com/c-pace/
The Department of Economic and Community Development is the state’s lead agency responsible for strengthening Connecticut’s competitive position in the rapidly changing, knowledge-based global economy.
The agency takes a comprehensive approach to economic development that incorporates community development, transportation, education, and arts and culture. Specifically, the department:
- Supports existing businesses and attracts new businesses and jobs with a wide range of programs and services to help companies prosper;
- Promotes Connecticut industries and businesses here at home, throughout the country and across the globe;
- Strengthens Connecticut’s communities by providing funding and technical support for local community and economic development projects;
- Works to make tourism a leading economic contributor and a source of pride for Connecticut;
- Develops and strengthens the arts in Connecticut and makes artistic experiences widely available to residents and visitors; and
- Helps to eliminate brownfield properties by promoting smart growth principles, strengthening public/private partnerships and providing a one-stop resource for expertise.
Verogy is a West Hartford, CT-based solar developer focused on developing, constructing, and owning commercial, industrial, and small utility-scale projects. Built on 75+ years of combined industry experience, the professionals at Verogy have developed, financed, and constructed hundreds of solar projects across the United States. Learn more at verogy.com.