By: Isabelle Elizondo On: December 21, 2023 In: Comments: 0

Rhode Island Infrastructure Bank (Infrastructure Bank) today announced $483,000 in Commercial Property Assessed Clean Energy (C-PACE) program financing for a new rooftop solar installation at Fulford Manufacturing’s facility in East Providence. The Infrastructure Bank also welcomes BankRI to the C-PACE program and congratulates them on funding their first project in the state.

Fulford Manufacturing’s rooftop solar installation will generate an estimated 155,885 kWh, and by utilizing net metering will greatly reduce their annual electricity costs. The cost of the system will be offset by a combination of federal, state, and other incentives that will provide a total net income of $391,335 by the end of the 25-year C-PACE loan term.

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