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 more about c-pace