Electricity Rate Hikes
Connecticut has the highest electricity rates in the continental United States. Eversource customers saw a 12.8% increase, and United Illuminating a 34.4% increase.
Are you ready to put a lid on your rising electricity costs? Reach out to us and we can show you what's possible with solar power. We will combine the top solar rebates and tax credits for CT to help you save the most money.
CT Solar Incentives: Renewable energy rebates put money back into your business to offset the cost of solar panel installation. Various programs and incentives change over time. Here are the latest Connecticut solar incentives.
The Non-Residential Solar Renewable Energy Solutions (NRES) Program: The NRES program is authorized for six years and to select up to sixty MW of clean energy annually. All system sizes are limited to 100% of the client's usage, but the Public Utilities Regulatory Authority (PURA) has noted they will expand these limitations in year 2 to allow full rooftop systems.
Commercial Property Assessed Clean Energy
(C-PACE) Financing: This program enables commercial property owners to get long-term financing for energy efficiency and renewable energy projects. This includes solar panel installations. The financing is repaid through a voluntary assessment on the property's tax bill.
Connecticut Green Bank Programs: The Connecticut Green Bank offers various programs and incentives to promote renewable energy adoption, including solar. Some of the programs that may benefit commercial solar installations are:
a.) Commercial Property Assessed Clean Energy
(C-PACE): As mentioned earlier, C-PACE provides financing for clean energy projects, including solar installations for commercial properties.
b.) Smart-E Loan Program: The Smart-E Loan Program offers low-interest loans to commercial property owners for energy-saving improvements, which can include solar installations.
Federal Investment Tax Credit (ITC):
Although not specific to Connecticut, this federal government solar incentive is a significant incentive for commercial solar installations throughout the United States. It allows businesses to claim a tax credit equal to 30%, 40%, 50%, up to 60% of the total installed costs of a solar energy system.
Local utilities, municipalities, and other organizations may offer additional incentives or financing options. Our solar experts are available to ensure you take advantage of all available rebates and incentives. Learn more about Smart Roofs Energy here.