Massachusetts Mutual Life Insurance Company, or MassMutual, has completed a $2.4 million solar installation at its Springfield, Massachusetts headquarters. The insurance company received an $118,000 grant fromthe Massachusetts Clean Energy Center (MassCEC), in addition to other federal and state tax incentives.
The project consists of 528 solar photovoltaic panels and 96 solar thermal panels, covering about 40,000 square feet. Thiswill provide about 50% of the company’s hot water demand and the PVsystem will provide 111 kilowatt hours (kWh) of electricity. From thesesolar energy systems, MassMutual will see a carbon emissions reduction of 1,830metric tons of carbon dioxide over the lifetime of the system which isestimated to be over 20 years. In addition, the company anticipatesthat the solar installation will reduce fuel demand and lower MassMutual’s overall operating costs.
The insurance company has introduced other energy efficiency improvements to augment savings and cut down consumption. Thisincludes installing a white roof to decrease roof temperature. A whiteroof will reduce expenses related to air conditioning and also protectthe solar panels from high temperatures which reduce operating efficiency.
The president and CEO of MassMutual, Roger Crandall, said: “By installing more than 600 solar panels on the roof of our headquarters, MassMutual has made great strides atadopting earth-friendly operations, reducing our carbon footprint, andproviding a sustainable and renewable source of energy for our campus.We are very pleased and excited about our renewable energy initiative.” MassMutual is said to be considering solar installations at their State Street / Boston and Enfield locations in Massachusetts.