Hartford, CT – The Connecticut Green Bank announced the closing of Commercial Property Assessed Clean Energy (C-PACE) financing at River Haven Cooperative Apartments in Stamford to replace an existing steam boiler and condensing domestic hot water (DWH) system.
The apartment building will also be the first property to receive a free electric vehicle (EV) charging station through the Green Bank’s Charge Up CT Buildings campaign, which provides EV charging stations to properties using C-PACE financing through the Green Bank for a qualifying project. The electric vehicle charging equipment is expected to be installed this spring.
Built in 1960, the River Haven Cooperative is a six-story brick building with 114 units. The $213,691 in C-PACE financing will be used to replace the existing steam boiler with a new steam boiler and a new condensing domestic hot water (DHW) system. The boiler will be installed by Edgerton, Inc. Heating & Air Conditioning in Monroe. After completion, the project is anticipated to save more than $360,000 in cost savings and 20,000 mmBTUs of energy over the 20-year estimated useful life of the equipment.
Mackey Dykes, vice president of financing programs at the Connecticut Green Bank, says, “We are reducing the carbon footprint of this multifamily building through C-PACE, which is a win for the environment. We also take another step towards cleaner, more reliable transportation.”
The EV charging station will be installed in the River Haven Cooperative’s parking lot, for the exclusive use of residents and their guests. The equipment is manufactured by EVSE LLC, a subsidiary of Control Module that is based in Enfield. Bonner Electric of Uncasville will install the system.
The Charge Up CT Buildings campaign was implemented to encourage property owners making energy efficiency upgrades using C-PACE to further modernize their buildings with EV chargers, positioning them to meet the growing demand for charging.