ABB_id1481
in News Departments > Policy Watch
print the content item

Connecticut Gov. M. Jodi Rell recently announced the state's Solar Lease Program, whereby the Connecticut Clean Energy Fund (CCEF) provides a combination of rebates and tax credits to lower the cost of leasing solar systems.

Administrator AFC First Financial Corp. has completed the paperwork for what will be the first residential solar lease under the program. The 5.88 kW system, being installed on a home in Simsbury, Conn., by Solar Works Inc., is the first of an anticipated 1,000 residential solar photovoltaic systems to be put in service under the program in the next three years.

Homeowners with qualifying credit and whose household income is less than or equal to 150% of the median income in their area are eligible for the program. This is the first time a ratepayer-funded organization such as the CCEF has partnered with financial institutions to leverage federal tax credits in order to make renewable energy more affordable. CCEF is investing $38.6 million in the program.

CT Solar Leasing LLC will finance the purchase and installation of the systems. By owning these systems, CT Solar Leasing can take advantage of federal business tax incentives presently unavailable to consumers. With the CCEF's Solar PV Rebate Program and the federal tax incentives, there is no need for a down payment.

SOURCE: AFC First Financial

Hybrid Energy Innovations 2015

Latest Top Stories

U.S. ITC Votes To Uphold Anti-Dumping Finding Against China And Taiwan

Although not unexpected, the decision to uphold a preliminary finding will lead to tariffs on PV products imported into the U.S.


Solar And Wind Drove New Clean Energy Investment Up 12% In 2014

Despite a reduction in Europe's major renewable energy market subsidies and very competitive natural gas prices in the U.S., investment in the global clean energy sector for 2014 registered its first annual increase since 2011.


Study Finds U.S. Solar Jobs Have Grown 86% In Four Years

Despite a leveling out in the cost of photovoltaic power, solar jobs continue to climb in the U.S. far above other sectors.


Xcel's Community Solar Program Creates 'Bite-Sized' Utility Projects

Launched last month, Xcel Energy's Solar*Rewards Community program promises to help build a new segment of the solar market. Project developers and builders near and far are adjusting their business models accordingly.


Utility Commission Order Bolsters N.C.'s Status As A Rising Solar Power

A year-end decision by North Carolina regulators has upheld the state's effective standard order power purchase agreement while codifying a methodology for utilities to use when calculating avoided cost rates.

2015 Buyer's Guide Register
Hybrid Energy Innovations 2015
Solectria_id1450
PV America_id1480