Through its partnership with KeyBank, Green Earth Energy PV, a solar industry leader in Massachusetts and Connecticut, is providing maximum value for both its commercial customers and its nonprofit clients.
Founded in 2011 by Chris Scyocurka, Green Earth Energy PV is a solar industry leader that provides energy solutions to help its clients achieve their sustainability goals.
An increasing number of businesses throughout the country are implementing upgrades that improve efficiency, reduce waste and minimize the impact on the environment. Business owners know that lower energy use translates into improved profitability and cash flow, and investments in sustainability can add significant value to business assets.
With a rapidly growing team of professionals with a combined 140 years of electrical engineering and construction experience, Green Earth Energy helps its commercial and nonprofit clients turn their properties green and save energy. To fully realize these opportunities, Green Earth Energy needed a financing partner with energy-efficiency and renewable-energy expertise, resources, connections and the ability to develop and implement unique funding solutions.
Key’s Energy Efficiency and Renewables team helps businesses of all kinds achieve sustainability, whether directly to businesses through energy upgrades that improve efficiency, reduce waste and minimize the impact on the environment, or as a financing partner to renewable energy providers and their clients.
Using the combined resources of its relationship managers and energy efficiency teams, KeyBank works closely with energy solutions providers from the outset to help develop their energy strategy. This may include:
- Solution identification and approach
- Energy efficiency and renewable incentive opportunities, such as grants to reduce long-term capital costs and improve yearly energy savings
- Funding opportunities, including equipment term loan, capital lease, operating lease and real estate loan
- Lighting, HVAC and solar project development, incentives and lending solutions
“From that start with Key, it became apparent they were not like other financial institutions. The folks we are working with understand what we are doing, our value proposition, and our costs and pricing schematic.” – Chris Scyocurka, President, Green Earth Energy PV
For Green Earth Energy, Key 4 Green provided a combination of construction and term debt financing for solar installations. The projects have been funded at 100% and include soft and hard costs, which for Green Earth Energy is an advantage over merely doing 70%-80% of the total project cost.
In addition to providing funding for Green Earth Energy’s commercial and nonprofit clients, KeyBank provides credit-based solutions and day-to-day operational solutions including checking, operating and savings accounts, purchase cards and working capital solutions.
With its holistic approach to sustainability, Green Earth Energy has worked with KeyBank over two years to assist many commercial clients, as well as more than a dozen nonprofit entities with infrastructure and renewable energy improvements, including rooftop solar installations that harness power from the sun.
“There’s a beautiful opportunity for us to serve the nonprofit arena while providing great value to them and a forward-thinking environmental approach to how they use their energy resources,” said Scyocurka. “We’ve been able to do that with pretty significant confidence that, candidly, we only have because of our relationship with KeyBank.”
Nonprofit customers include various Boys & Girls Clubs and the YMCA in Massachusetts, and the Roman Catholic Diocese of Bridgeport, Conn. The projects carry a common thread of providing funding for both renewable energy sources and improvements to infrastructure that is often in need of repair.
“Green Earth Energy is a model customer for our bank and has a fiscally sound model of working with organizations and companies to reduce their energy costs,” said Jeffrey J. Eades, Key Equipment Finance vice president and Key 4 Green national sales leader. “We speak the same language. We speak tax credits and benefits and savings and real energy contracting credits.”
Benefits of partnering with Key 4 Green
By partnering with Key 4 Green, Green Earth Energy is maximizing the impact of its client’s sustainability initiatives, which include investing in renewable energy, reducing their environmental footprints, designing more energy efficient and healthier facilities and reducing energy use and emissions.