About the Project:

The tenants of the Glascock Office Building represent leaders in environmental advocacy and have pursued a series of comprehensive energy efficiency upgrades since 2006.  The property owners capped off their series of upgrades with the replacement of their HVAC system with a new energy-efficient 120-ton rooftop HVAC unit.   With all replacements undertaken, the property’s average annual energy consumption savings is projected at 145,000 kWh per year, furthering the building’s legacy as ENERGY STAR Certified.  The partnership between the Montgomery County Green Bank and Sandy Spring Bank brought affordable financing to the building owners so the project could proceed. The Glascock Office Building will enjoy lower energy costs, a more comfortable space, and greater control over their energy use from the series of energy upgrades.

Montgomery County Green Bank’s Role

The CLEER Program of the Montgomery County Green Bank brought partner and the needed capital from local bank, Sandy Spring Bank, to support the Glascock Office Building’s HVAC Replacement.

Project Snapshot

Building Type:

23,542 square foot commercial office located in Bethesda, Maryland

Property Upgrade Summary:

Energy Efficiency upgrades including HVAC replacement reducing energy consumption by 17%, or 50,000 kWh per year.

Loan Amount:

$206,500 Commercial Loan for Energy Efficiency and Renewables (“CLEER”) by Sandy Spring Bank and backed by Montgomery County Green Bank.

Total Cost for HVAC Replacement $206,500
CLEER Program Loan $206,500
Pepco Incentive $14,000
Other Capital $0

For those who can benefit from decreasing operating expenses because of energy efficient equipment, infrastructure, and their physical space, the CLEER program is a way to make those investments in a way that generates net positive cash flow.