Large-Scale Commercial Solar Project Utilizes Innovative C-PACE Financing
EnterSolar, a leading provider of solar photovoltaic solutions for the commercial marketplace, today announced the completion of a 520-kilowatt (kW) solar photovoltaic (PV) project for Carling Technologies, Inc., a global manufacturer of switches circuit protection products and controls.
The state-of-the-art solar system now generates approximately 45% of the annual electricity requirements of Carling's Headquarters, which houses not only the Company's administrative offices but also its research, development and manufacturing functions. The system will provide annual environmental benefits equal to planting 100 acres of trees or powering almost 80 average Connecticut homes annually.
"From its founding in 1920 as Carling Tool and Machine through the evolution to manufacturing as Carling switch to today's Carling Technologies, Carling has always forged a tradition of leadership in quality and product innovation. Our commitment to our community and the planet follows that same tradition," said Paul Soucy, Chief Financial Officer of Carling Technologies. "We are pleased to take this important step in reducing our environmental footprint."
The Carling solar project was funded in part through the Connecticut Green Bank's innovative Commercial Property Assessed Clean Energy (C-PACE) program, which provides Connecticut businesses with affordable, long-term financing for smart energy upgrades to their buildings. C-PACE allows building owners to finance qualifying energy projects through a voluntary assessment on their property tax bill.
"We are proud to have been able to partner with Carling on this important renewable energy project," said Paul Ahern, president of EnterSolar. "By utilizing the innovative C-PACE financing solution, in conjunction with the EverSource Zero Emission Renewable Energy Credit (ZREC) program, Carling was able to realize substantial financial benefits in addition to the project's significant environmental benefits."