Modern Woodcrafts

Location: 72 Northwest Drive, Plainville, CT
Building Size: 80,000 sq ft
Year Built: 1970
Total Project Cost: $505,187
Utility Incentive: $184,156
C-PACE Financing: $338,871
Term: 13 years
Annual Interest Rate: 5.3%
Annual C-Pace Assessment: $35,614
Annual Energy Cost Savings: $35,375
Lifetime Energy Cost Savings: $459,872
Annual Energy Savings: 763 mmBTU/yr
The 65,000 square foot building at 72 Northwest Drive was originally constructed in 1970 and was renovated in 1972, 1974, and 1980. The building hosts a wooden fixture designer, manufacturer, and distributer in Plainville, CT. The proposed investment is a C-PACE transaction under which the Connecticut Green Bank would provide construction financing and term loan commitment in the amount of $1,225,492 to support the installation of a 324 kW roof mounted solar PV array as well as the installation of LED lighting throughout the building, and HVAC efficiency upgrades. The contractor for the project will be Earthlight Technologies. While the C-PACE assessment will be $1,225,492, the total project cost will be $1,325,492. Modern Woodcraft has secured a two year $100,000 interest-free loan from the Small Business Energy Advantage (SBEA) program administered by Connecticut Light and Power.