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Bay Shore, NY Solar PV Installation

Dividend provided PACE (Property Assessed Clean Energy) financing to Advanced Convergence Group (ACG) for the installation of 45.6 kW of rooftop solar PV. The project is furthering ACG’s energy use reduction goals by offsetting 28% of its annual usage. Dividend financed 100% of project costs, enabling ACG to preserve its working capital for reinvesting in its business.

Company: Advanced Convergence Group

Solar PV

Financing Closed: November 3, 2020

Project Overview

Project Scope:

  • 45.6 kW Rooftop Solar PV System

PACE Financing:162,686 / 20 years @ 6.20%

Project Impact

$10,419 in annual savings

Year 1 Rebate: $6,840

Reduce Energy Use by 54,836 kWh per year

Combined C02 Saved Per Year:

  • 172 Metric Tons of CO2 annually is equal to:
    – 8 cars per year off the road
    – 21 tons of coal not burned
    – 4.5 homes’ energy use
    – 51 acres of forest capturing CO2

Dividend offers residential clean energy loans and commercial PACE (C-PACE) financing, a public-private financing mechanism for energy efficiency, renewable energy, and other resiliency and conservation measures to upgrade privately-owned property. The company has financed over $1.2 billion in renewables and efficiency projects in 41 states. Dividend first offered C-PACE financing in 2010, one of the country’s first PACE programs. This is the first C-PACE project Dividend has financed in New York, marking the third new market in which Dividend has closed C-PACE financing in 2020.