Community Theater + Solar = Savings

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Project Profile

Challenge:
The Art Mission and Theater Building in downtown Binghamton dates back to the 1840s and serves as a theater, gallery, and apartment building. The owner wanted to install solar to reduce electricity costs, but needed funding.

Solution:
The Theater was able to finance the solar project with 20-year Energize NY PACE financing, which produces over 7,000 kWh of electricity per year.


Project:

  • Theater and Gallery, 12,000 sq.ft.
  • 5.9kW Solar PV System
  • $860/yr Average Annual Cash Flow
  • 7,135kWh Annual Production

Financing

  • Amount Financed: $18,500
  • Term: 20 years
  • Interest Rate: 5.90% Financing Cost: $1,551/yr
  • Completion Date: July 2017

“We had been planning to take advantage of solar for over a year, but finding funds for the project was a challenge. We were able to obtain 20-year PACE financing for the project after Broome County began offering Energize NY PACE..” 
-Maggie Martin, Building Owner


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