An energy improvement project at an indoor multi-sport recreation facility in Trumbull, Conn., will save the facility an estimated $1.8 million, the Easton Courier reports.
The Insports facility secured $1 million in funding for the project through the Commercial Property Assessed Clean Energy (C-PACE) program.
Energy efficiency improvements completed at the facility included solar panels, energy efficient lighting and HVAC upgrades.
Connecticut’s C-PACE program is administered by the Connecticut Green Bank, formerly the Clean Energy Finance and Investment Authority.
The C-PACE program offers commercial and nonprofit property owners long-term financing to fund energy improvements with no upfront costs and immediate energy savings.
To date, the Connecticut Green Bank has allocated more than $65 million for over 90 projects across the state. From 2013 to 2014, the number of buildings that have received new financing from the program have tripled.
C-PACE allows participating property owners to access capital to finance qualifying energy saving and clean energy improvements. Property owners pay for the improvements over time – typically around 20 years – through an additional charge on their property tax bill. The C-PACE payment obligation transfers to the next property owner if the property is sold.
Qualifying C-PACE improvements include solar installations; high-efficiency lighting; HVAC improvements and controls; energy efficient windows; variable-speed drives on motors, fans and pumps; high-efficiency boilers, chillers, furnaces and water-heating systems; building envelope improvements; fuel cells; energy management systems; and other improvements that reduce energy costs in a building.
YMCA facilities in Meriden and Milford, Conn., have also taken advantage of C-PACE funding for energy efficiency projects.
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