PACE in Connecticut: Hartford contractor receives $495K energy financing

Hartford contractor Crest Mechanical Services will receive $495,000 in state C-PACE financing to build two solar systems.

Crest is expected to yield $1.3 million in lifetime energy savings from the two projects under the Commercial Property Assessed Clean Energy, or C-PACE, program, which allows businesses to finance renewable and efficient energy projects at no upfront costs.

Crest will use $325,000 in financing for a 100 kilowatt solar system at a 40,000-square-foot warehouse on Broad Street. The project will save the company $47,000 in annual savings, which includes $22,000 from the state’s Zero-Emissions Renewable Energy Credit, or ZREC, program.

The second loan of $170,000 will support the installation of a 55 kilowatt solar system at a 34,500-square-foot facility on Walnut Street. The owners will realize $21,000 in annual savings, including $10,600 in ZRECs. Learn more.