The Connecticut Green Bank announced the closing of Commercial Property Assessed Clean Energy (C-PACE) financing for a solar photovoltaic system at Hitchcock Printing & Distribution Services, located at 191 John Downey Drive in New Britain, Connecticut. The system is estimated to save the business more than $1.2 million in avoided energy costs over the next 20 years. Founded in 1904 by Edwin Rogers Hitchcock, the company runs a modern 21,000 ft2 facility with a highly skilled workforce and state-of-the-art equipment to provide printing, creative design, finishing and mailing services.
“The addition of our solar system is a key to staying competitive now and in the future,” said Anthony Bracco, president of Hitchcock Printing. “State-of-the-art equipment and a highly trained youthful workforce accompanied with a plan to manage our energy costs will ensure that we have an edge in the years to come.”
The 227-kW system was developed and installed by Smart Roofs Energy.
Since 2013, C-PACE financing has helped building owners complete more than 400 projects for estimated energy cost savings of nearly $420 million. C-PACE financing allows commercial property owners to install green energy upgrades today and pay for them over time, covering up to 100% of costs at low-interest rates with terms up to 25 years.
“We are seeing continued interest in C-PACE from energy-intensive businesses seeking ways to reduce their energy-cost burdens, especially through the addition of solar systems,” said Mackey Dykes, VP of financing programs at the Connecticut Green Bank. “It’s exciting when companies with long histories in their community, like Hitchcock Printing, take advantage of green technologies to enhance their bottom line.”
News item from Connecticut Green Bank
