As part of its ongoing commitment to reduce the company's impact on the environment, Massachusetts Mutual Life Insurance Company (MassMutual) has announced it will install more than 500 solar panels on a portion of the roof of the company's headquarters in Springfield, Mass.
The solar panel installation will aim to cut electric and fuel costs for MassMutual, while also allowing the company to evaluate the sustainability of solar technologies for future ventures. The project will include both Photovoltaic and Thermal solar panels, which will generate electricity and hot water respectively and are expected to save an estimated $100,000 a year in energy costs.
"MassMutual is firmly committed to improving our facilities to be as green and sustainable as possible," said Roger Crandall, MassMutual's President and Chief Executive Officer. "We are proud to be a green leader among businesses in our area and hope that our example will inspire other organizations to evaluate and lessen their own environmental impact."
The solar panels will be installed on a 40,000 square foot parcel of the 9.6 acres of roof on MassMutual's main campus at 1295 State St. Aside from the solar components, the project will also utilize white roofing, which reflects the sun and reduces the temperature of roof surfaces.
"This new solar project will help lower energy consumption, reduce our carbon footprint, and provide a comprehensive understanding of green technologies, which will help MassMutual to continue our efforts toward increased sustainability," said Sean Anderson, Assistant Vice President of Facilities Operations and Director of Green Initiatives at MassMutual.