Machias bank goes solar with new HQ building
Courtesy / Machias Savings Bank
Here comes the sun, via 142 rooftop solar panels on the new Machias Savings Bank headquarters building scheduled to open in August.
Machias Savings Bank is going solar on its new headquarters building, due to open in August at 31 Main St. in Machias, and completed the installation of 142 rooftop solar panels this week, the bank announced Wednesday.
The 53.25-kilowatt solar array is expected to produce 54,700 kilowatt hours of electricity annually, covering about 25% of the building's power usage and preventing 49,230 pounds of carbon dioxide from entering the atmosphere each year.
The bank's investment in the solar panels will be $150,000, according to a spokesperson.
The system is grid-tied, meaning any electricity created from the panels is used in real time and goes directly toward the building’s energy consumption.
“We’ve been thinking about the long-term investment in our community and our region since this project’s conception," said Chris Lyford, the bank's chief operating officer, in a news release.
"We haven’t seen very many similar solar projects in Machias and our surrounding areas, and we’re pleased to be making strides toward environmentally friendly solutions that will have a lasting impact on the natural resources in this beautiful part of Maine that we’re very blessed to call home."
The solar panels were installed by ReVision Energy, an employee-owned company based in Liberty, with additional physical locations in New Hampshire and Massachusetts.
Machias Savings, which has 16 branches statewide from Portland to Caribou, said the building is environmentally friendly in several other ways, including the use of LED technology in 99% of its lighting. The building also features three high-efficiency gas boilers and large motors with variable frequency drives to reduce energy consumption.
In addition, the building is insulated with closed cell spray foam insulation, and the solar panels will help stop the transfer of heat from the sun to the roof’s surface, effectively making interior temperatures easier to manage, the company said. Benchmark Construction is managing the overall construction project.
Mainebiz reported in October that the $5 million Machias Savings Bank building under construction will feature amenities including meeting space, a fitness center and a cafeteria, and comes as the Downeast town is bouncing back after years of decline.
As of Dec. 31, 2019, Machias Savings had $1.525 billion in assets.
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