New Opportunity for Connecticut Manufacturers to Lower Energy Costs
The Connecticut Department of Economic and Community Development and Connecticut Green Bank have unveiled a new initiative that provides manufacturers an innovative way to lower their energy costs.
The Energy on the Line program offers grants for renewable energy and energy efficiency building upgrades.
The Energy on the Line program will provide supplemental funds to manufacturers who complete a qualifying green energy project using the Green Bank’s Commercial Property Assessed Clean Energy (C-PACE) program.
C-PACE provides commercial property owners with full financing for green energy projects that help reduce a plant’s total energy cost and improve emissions.
The $800,000 program is funded through the DECD’s Manufacturing Innovation Fund and will be matched by more than $8 million of private sector funds through the Connecticut Green Bank. The Connecticut Green Bank will administer the program.
“Connecticut manufacturers feel the burden of high energy costs more than anyone, and we’re excited to see C-PACE put manufacturers back in control of their businesses through the Energy on the Line program,” says Bryan Garcia, president and CEO of the Connecticut Green Bank.
“We look forward to working with the manufacturing community and to making green energy financing more accessible and affordable to them. That’s a win for Connecticut’s environment and economy.”
The Energy on the Line program is open to all Connecticut manufacturing companies that have owner-occupied facilities.
Applications must be received by September 16, 2016.
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