The Shiny Penny
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BURLINGTON, WI – Community State Bank, a $465 million locally owned and operated community bank headquartered in Union Grove, recently converted their Burlington location to solar energy. Over 60 solar panels were developed and installed by Convergence Energy located in Lake Geneva, WI.
Vice President of Business Development at Convergence Energy, Steve Johnson explained that the newly installed panels will provide approximately 31,000 kWh of electricity, which is the equivalent of powering two and a half average U.S. homes for a year. Based on historic consumption, about 97% of CSB Burlington’s annual facility needs will be cared for.
“In approximately 5 to 6 years of recoup time our Burlington office will save thousands each year in energy costs,” said Bank Chief Financial Officer, Peter Schumacher. “It’s a significant investment that will save us a substantial amount of money. In addition, we’re investing in our community. It truly is a win-win.”
Convergence Energy was eager to partner with CSB and introduce solar energy to the Burlington Market.
“Local adoption of solar means a great deal for our organization, especially a local bank,” said Johnson. “Customers count on banks to look out for their money, whether that’s business cash management services, business leasing or investment advice. Solar energy is a smart financial decision that we’re happy to introduce to all types of organizations.”
CSB anticipates that this project will be a driving force to encourage other organizations to pursue clean energy for their business needs as well. The bank will utilize Burlington as a test site to consider solar energy at their other locations.
“I think that as local leaders we have a responsibility to make smart choices for the wellbeing of our community,” said Bank President & CEO, Scott Huedepohl. “Convergence Energy was a great partner and guide to our bank as we dove into solar energy for the first time. It truly is a gift to have them in our market and we look forward to seeing the benefits that these solar panels will bring to our bank and community.”