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tweetLafayette, CO—CEAVCO Audio Visual, an Arvada-based company that provides video, audio, and lighting for events nationwide, is investing in energy efficiency improvements at its office on West 54th Avenue through the Colorado C-PACE program. The improvements, which include a solar PV system, LED lighting, and a roof upgrade, are projected to reduce the building’s energy use by 94 percent.
ECO Roof and Solar and Namasté Solar will install the project at the 33,827-square-foot facility. The C-PACE project is projected to increase the building’s value by $406,505.
Greenworks Lending, a national provider of commercial PACE financing, funded the investment, which totaled $669,562.
“We’ve been in business for more than 50 years, and while we’re primarily focused on making our clients look good, we knew the time had come to take care of some in-house maintenance issues,” said Matt Emerson, president of CEAVCO Audio Visual. “By installing a new roof, solar PV system, and energy-efficient lighting, we were able to modernize our office—making it more comfortable for our employees and tenants—lower our energy costs, and reduce our carbon footprint. All with no money down. The Colorado C-PACE program is definitely worth looking into.”
“We’ve been constructing high-qualify roofs in Colorado for a decade and are known for providing excellent customer service,” said Houston Moore, a commercial project manager with ECO Roof and Solar. “The Colorado C-PACE program, which enables our customers to access affordable, long-term financing for their projects with no money down, is a great option for our customers that we are proud to offer.”
“As an employee-owned cooperative that operates as a force for good in our communities, we’re thrilled to work with CEAVCO on the solar portion of their C-PACE project,” said John Shaw, commercial solar developer for Namasté Solar. “Solar energy helps property owners lock in low energy costs, reduce operating expenses, achieve sustainability benchmarks, and boost value. In addition, a C-PACE 20-year amortization schedule enables them to install such systems easily and affordably—without tapping into working capital—while still allowing them to take advantage of all the federal tax benefits and utility incentives.”
“The CEAVCO project is an excellent example of the ability for C-PACE financing to decrease the barriers to entry for commercial solar,” said Genevieve Sherman, head of New Markets & Partnerships of Greenworks Lending. “The economics of the project are much more favorable to the business property owner—meaning more solar can be deployed throughout the state—and that fosters both economic development and sustainability.”
About Colorado C-PACE
A program of the Colorado New Energy Improvement District (NEID) administered by Sustainable Real Estate Solutions, Colorado C-PACE provides financing for energy and water improvements, including new heating/cooling systems, lighting, water pumps, insulation, and renewable energy projects for commercial properties. C-PACE offers long-term financing that covers 100 percent of the project cost and is repaid over a period of up to 20 years. The payments are structured as a regular line item on the property tax bill. When a property is sold, the C-PACE assessment can stay with the property and transfer to the new owner, who enjoys the ongoing utility cost savings associated with the project. Visit copace.com for more information.