Senior living community to enjoy incredible $7.6 million benefit from unconventional investment: 'We can all feel good'

A Connecticut senior living community has embraced a greener future.

Meadow Ridge, a continuing care retirement community in Redding, installed solar panels on its rooftop and carport, the Hartford Courant reported.

"This is an exciting day on many levels," Meadow Ridge chief operating officer Brett Mehlman told the Courant. "We can all feel good that we are making this investment in the future of our community and our planet while realizing immediate benefits."

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Officials say the panels will provide Meadow Ridge with more than 20% of its energy each year, resulting in savings of more than $7 million over the panels' lifespan. They will also offset roughly 666 tons of carbon each year — about the equivalent of driving a gas-powered car 1.5 million miles.

Meadow Ridge is just the latest Nutmeg State retirement community to add solar panels, the Courant reported, with the communities expected to save tens of thousands of dollars annually on their energy costs.

"A lot of retirement communities are seeing the benefits of going solar as a way to save money and cut costs," Jenna Behan, an official with Verogy Solar, told the Courant. "I think this is a trend we will see more of going forward."

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Of course, solar energy isn't just for corporations. Installation prices continue to drop nationwide, and tax credits can help individuals save thousands of dollars when installing panels at their homes.

That's part of the reason switching to solar has been so popular of late. In recent years, it's been common for countries to see 50% growth in rooftop solar panel use. And at the start of 2024, solar accounted for 87.3% of all new energy capacity in the United States.

A drop in costs accounts for some of solar's increased popularity, but so does its relative capacity and ease of installation, as opposed to other energy sources. As a clean, renewable energy source that won't run out as long as the sun still shines, solar seems poised to continue its rapid growth.