Montgomery County's Commercial PACE program has financed an inaugural project in Rockville.
Montgomery County established its C-PACE program to assist commercial, multifamily, industrial and nonprofit building owners in financing energy efficient and renewable energy upgrades.
The energy improvements are projected to reduce the building’s electricity and water consumption by almost half, saving more than $160,000 in energy and maintenance costs annually. The project also will reduce energy use by approximately 2,300 million British Thermal Units (MMBTU), generate nearly 100,000 kWh of solar energy and save more than 750,000 gallons of water annually.
Keith Derrington, president of Rockville-based Recurrent Innovative Solutions, LLC, the contractor for the project, said “We updated the building with a state-of-the-art building automation system that allows for the dynamic optimization of the building in real time, plus high-efficiency LED lighting and rooftop solar to achieve a cash flow positive project through the C-PACE program.”
Read the full press release here