A 500 kilowatt solar power project currently under construction on the grounds of National Life Group is expected to go on line by the end of the year and will generate a significant portion of the company’s electricity. The new project will be part of the state’s net metering program, as an existing 70 kW rooftop system on the company’s roof is, feeding power onto the electrical grid while replacing reliance on fossil fuel. The 10,000 megawatts per year that the two systems will produce represents more than 15 percent of the company’s power demand. And that represents about 3 percent of the 82,256 megawatts per year of power demand in the entire city of Montpelier.
Governor Shumlin and National Life CEO Mehran Assadi at the groundbreaking. Photo courtesy of National Life.
“This is an investment that makes sense financially for our company,” said Mehran Assadi, president and CEO. “But it’s also one that helps the city and state continue moving toward sustainability. We’re proud that it will make a difference in the community we’ve called home for 165 years.”
Assadi was joined by Governor Peter Shumlin in kicking off construction of the project, which is expected to begin generating power by the middle of December.
National Life Group’s renewable electricity will contribute to the goals of the Net Zero Montpelier project, designed to move the city toward energy independence. The goal of the project is to make Montpelier the first state capital in the country to eliminate or offset the use of all fossil fuels in electric, thermal and transportation uses.
National Life Group, whose 525,000 square feet of office space is LEED Certified, has made strides in all three areas. In addition to the solar projects, the buildings are heated with renewable wood chips. And the company encourages alternative transportation, including subsidies for commuter buses.
The companies of National Life Group offer a broad range of financial products, including life insurance, annuities, and investments, and financial solutions in the form of estate, business succession and retirement planning strategies. They are a leading provider of 403(b)and 457(b) tax-deferred retirement plans,primarily in theK-12 school marketplace.
Source: Natinal Life Sept. 30, 2014