The Connecticut Inexperienced Financial institution introduced the closing of Business Property Assessed Clear Power (C-PACE) financing for a photo voltaic photovoltaic system at Hitchcock Printing & Distribution Companies, situated at 191 John Downey Drive in New Britain, Connecticut. The system is estimated to save lots of the enterprise greater than $1.2 million in prevented power prices over the subsequent 20 years. Based in 1904 by Edwin Rogers Hitchcock, the corporate runs a contemporary 21,000 ft2 facility with a extremely expert workforce and state-of-the-art tools to offer printing, inventive design, ending and mailing companies.
“The addition of our photo voltaic system is a key to staying aggressive now and sooner or later,” mentioned Anthony Bracco, president of Hitchcock Printing. “State-of-the-art tools and a extremely skilled youthful workforce accompanied with a plan to handle our power prices will make sure that we have now an edge within the years to come back.”
The 227-kW system was developed and put in by Good Roofs Power.
Since 2013, C-PACE financing has helped constructing house owners full greater than 400 initiatives for estimated power price financial savings of practically $420 million. C-PACE financing permits industrial property house owners to put in inexperienced power upgrades at present and pay for them over time, masking as much as 100% of prices at low-interest charges with phrases as much as 25 years.
“We’re seeing continued curiosity in C-PACE from energy-intensive companies looking for methods to cut back their energy-cost burdens, particularly via the addition of photo voltaic techniques,” mentioned Mackey Dykes, VP of financing applications on the Connecticut Inexperienced Financial institution. “It’s thrilling when corporations with lengthy histories of their neighborhood, like Hitchcock Printing, benefit from inexperienced applied sciences to boost their backside line.”
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