By Laura Alix, American Banker
July 07, 2020, 5:59 p.m. EDT
At a time when banks need to trim any cost they can, especially at branches, solar power starts to look less like a purely feel-good PR move and more like a shrewd business decision.
Associated Banc-Corp. in Green Bay, Wis., recently subscribed to five solar gardens currently in development across Minnesota and Illinois. The subscription doesn’t cost the company anything, and its commitment to using a certain proportion of the energy produced is expected to slash about 20%, or $57,000, off its annual electricity bill.
The $34 billion-asset Associated also says that by signing onto the solar array projects, it is supporting jobs in its markets and ensuring other residents have access to that renewable energy.
“One of the things that we really like about this is that it’s supporting the local community where we’re doing business,” said David Knight, director of facilities real estate. “We really like the fact that not only what they’re building will be in our backyard but the people building it are in our backyard as well.”
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