C-PACE: Multi-tenant office
Located in Rockville MD, this 100,000 square foot office building used C-PACE financing to replace end-of-life infrastructure while adding solar power.
Property Owner: Rock Grove Associates
Measures: 75kW solar, HVAC and lighting fixtures
Capital Provider: www.greenworkslending.com
C-PACE financing supported energy-saving upgrades benefiting all tenants and the public spaces of this 38-year old building. Improvements included building automation, HVAC and LED lighting. The office building is expected to save $362,000 in its first year, and more than $5 million in energy expenses over the life of the equipment.
- Increased tenant comfort
- Decreased maintenance and operating expenses
- Lifetime projected savings of $5.08M
- In May 2018, the building received a 2017 Energy Star certification
Recurrent LLC is a Rockville Maryland based C-PACE program contractor who has completed hundreds of projects since its founding in 2013.
“The C-PACE program facilitates an immediate investment in infrastructure that adds value to the property, attracts tenants and improves the community through energy saving measures.”