The ceremony including a ribbon cutting was held at Lesro Industries on July 11, 2016 to commemorate the largest installation financed by CT Green Bank. In attendance was State Representative David Baram, Mayor of Bloomfield Joan A, Gamble, former Secretary of State Susan Bysiewicz, and several Bloomfield town officials.
The 995kW photovoltaic installation by C-TEC Solar at 1 Griffin Road in Bloomfield, began in October 2015 and was commissioned in January 2016, on-time and without delay. An annual savings of over $30,000 in energy costs are expected, equaling more than $700,000 over the 20 year term.
Solar energy at the manufacturing facility provides 100% of electricity used to power the 270,000 square foot building, and consists of over 3200 solar panels expected to produce over 1.2 million kWh per year.
This project was made affordable using the CT Solar Lease Commercial program administered by CT Green Bank that provides property owners access to long-term financing for energy upgrades to their buildings. Launched this spring, and available thru September 16th, manufacturers who apply for C-PACE financing are also eligible for an additional grant of up to $50,000. “Buildings like this, that are owner-occupied can qualify for clean energy improvements that would otherwise be difficult to afford,” said Mickey Toro, owner of C-TEC Solar.
CT Green Bank recognized C-TEC Solar with the 2015 Pacesetter Award for outstanding performance closing the two largest solar projects using the C-PACE solar lease or PPA financing structure. The award recognizes contractors who accelerate the growth of green energy. C-TEC Solar is one of the first contractors to have used C-PACE outside of municipal and non-profit facilities.