Commercial PACE Financing for Microgrid in Mixed-Use Building
U.S. Department of Energy
In 2016, Becker and Becker used commercial property-assessed clean energy (CPACE) financing provided by Greenworks Lending to implement energy efficiency, renewable energy, and resiliency solutions at its 777 Main Street property in downtown Hartford, Connecticut. As part of a larger redevelopment to provide mixed-use housing and retail space, the project included the installation of a microgrid and rooftop solar photovoltaics (PV), along with fuel cell energy storage, HVAC, and lighting upgrades. This was the first-ever microgrid project financed with CPACE. The resulting upgrades allow the building to “island” itself, operating independently from the grid in the event of natural disaster—an example of a broader trend toward using PACE financing to improve reliability, resiliency, and performance in the built environment. Since the project’s completion, the building has been operating with significantly reduced energy demand, saving $316,927 in the first year. The resiliency solutions combined with lowered utility bills have been a boon for commercial and residential tenants. This implementation model is part of the Better Buildings Commercial PACE for Resiliency Toolkit.
