GHAR Solar Project: 430 New Park Avenue
Our Clean Energy Transition
We are excited to share a major update regarding our sustainability efforts at our home, 430 New Park Avenue. Our facility recently finished with a commercial solar project through Connecticut’s Non-Residential Renewable Energy Solutions program. Created by the state and managed by Eversource, this clean energy initiative provides us with a locked-in, 20-year contract. This partnership ensures long-term operational stability and protects our organization against future utility rate spikes by securing fixed incentives for the next two decades.
Lowering Costs and Environmental Impact
- Current Energy Expenses: Our facility currently spends between $38,000 and $40,000 annually on electricity.
- Smart Engineering: The new solar array is custom-designed to maximize our available rooftop space while directly matching our physical energy footprint.
- Substantial Savings: The system will produce an estimated $25,000 worth of clean electricity per year, successfully wiping out approximately 65% of our current power bill.
A Responsible Financial Investment
This project represents a highly disciplined use of our financial resources. By capturing the 30% federal Investment Tax Credit alongside the steady utility incentives, the solar array will fully pay for itself by Year 7. After reaching this simple payback milestone, the system will provide us with 13 additional years of guaranteed, lower-cost power, allowing us to enhance our return on investment to the building with a 14% internal rate of return.