The Connecticut Green Bank announces a new partnership with OCOsink, a West Hartford-based energy consultant, designed to help commercial building owners develop and manage projects that will increase their energy efficiency and achieve their energy goals, while allowing them to focus on their core business needs. By leveraging OCOsink's Energy Program Facilitation (EPF) services, building owners are empowered to make improvements as complex energy concepts are translated into actionable projects with measurable results. This comprehensive solution is a cost-effective way to professionally engineer and manage energy efficiency projects, while taking advantage of the benefits of C-PACE financing. Building owners who take advantage of EPF services could be eligible for interest rate reduction when they use C-PACE financing.
"Buildings have been increasingly expensive to operate, due to rising utility rates and maintenance costs. Our process provides owners with the resources and framework to make impactful energy efficiency upgrades, transforming energy audits into comprehensive energy projects," said DJ Plis, Founder and Managing Director of OCOsink. "Our goal is to make decarbonization accessible and to ensure long-term benefits for our clients and the environment."
OCOsink's EPF services are value-driven and tailored to each property's unique needs. The process includes project development, engineering and procurement, implementation oversight, and performance assurance.
"We understand the challenges property owners face when trying to address complicated energy efficiency projects and their need for these improvements to be cash flow positive," said Alysse Lembo-Buzzelli, Director of Program Development and Origination at the Green Bank. "Designing projects is a major pain point for owners interested in making changes but are uncertain how to get started. Our partnership with OCOsink solves this problem by providing assistance from development through completion and performance assurance for energy efficiency projects."
With C-PACE financing, building owners can cover up to 100 percent of the energy improvement costs with terms up to 25 years repaid through a voluntary benefit assessment. Projects financed through C-PACE are often cash flow positive in year one. Projects that utilize EPF services through OCOsink will be eligible for a reduced interest rate through the Green Bank. This interest rate reduction will offset the cost of EPF services, while also resulting in better financial return on investment for building owners.
Learn more about EPF services and C-PACE financing, please visit www.ctgreenbank.com/EPF.
About OCOsink
OCOsink was formed in response to the Inflation Reduction Act, to address a critical need for independent expert oversight through all phases of a transformative energy program. Many building owners lack the technical resources and staff to manage large-scale energy efficiency and renewable energy projects. OCOsink aims to bridge the owner's resource gap to enable them to undertake larger, more comprehensive, energy efficiency and HVAC modernization projects.
About the Connecticut Green Bank
The Connecticut Green Bank was established by the Connecticut General Assembly in 2011 as the nation's first state-level green bank and has since supported the creation of more than 27,000 green jobs in the state, while reducing the energy cost burden on over 69,000 families, businesses, and nonprofits. The Green Bank's vision is a planet protected by the love of humanity and its mission is to confront climate change by increasing and accelerating investment into Connecticut's green economy to create more resilient, healthier, and equitable communities. This is accomplished by leveraging limited public resources to scale-up and mobilize private capital investment into Connecticut. In 2017, the Connecticut Green Bank received the Innovations in American Government Award from the Harvard Kennedy School Ash Center for Democratic Governance and Innovation for their "Sparking the Green Bank Movement" entry. To date, the Green Bank has mobilized more than $2.5 billion into the State's green economy. This has reduced the energy costs for thousands of families and businesses, and reduced greenhouse gas emissions that cause climate change and worsen public health.
Learn more at www.ctgreenbank.com.
