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Rocky Hill, Conn., February 5, 2007 – On January 29, 2007, the Clean Energy Investment Committee of Connecticut Innovations approved several enhancements to the Solar PV Rebate Program, an initiative of the Connecticut Clean Energy Fund (CCEF). This program offers rebates, through designated participating installers, to Connecticut residents, nonprofits and governmental organizations that install small solar photovoltaic (PV) systems.
The approved program enhancements include:
An increase in the residential installation size covered under the rebate from 5 kilowatts to 10 kilowatts.
A new funding basis for rebates on residential systems. Rebates will be calculated at up to $5 per watt applied to the first 5 kilowatts and up to $4.30 per watt applied to the next 5 kilowatts for systems that are larger than 5 kilowatts. Therefore, under the revised formula, the maximum rebate available on residential solar installations is $46,500. Additionally, the subsidy for Connecticut State Sales Tax has been eliminated.
A refinement to rebate incentives. Rebate incentives will be subject to a maximum of the customer’s average annual or expected electric usage.
The system size increase was approved, in part, because of the popularity and success of this program over the past two years. The program has received requests to fund a portion of larger PV systems for homeowners. To date, 192 residential solar installations have been approved totaling just over 840 kilowatts. Ninety-nine of the installations have been completed, and the remaining approved systems are scheduled for construction. During this same period, three small nonprofit and governmental installations were approved totaling 22 kilowatts.
Lise Dondy, CCEF president, commented, “The CCEF is pleased to be able to play a role in addressing long-term energy costs for the average consumer by making it more affordable for consumers to install small solar units on their homes or where they work. The power provided by such systems can help consumers stabilize their electricity bills and can help reduce the strain on the electric grid in Southwest Connecticut.”
Given the recent electric rate increases, concern about the dependence on fossil fuel, a changing global climate, and continued program outreach, Connecticut Innovations expects that the demand for small solar PV systems will increase and that the newly approved system size will result in more kilowatts of PV installed.
About the Connecticut Clean Energy Fund (CCEF)
CCEF was created by the Connecticut General Assembly and is administered by Connecticut Innovations, a quasi-public organization. CCEF promotes the development and commercialization of clean energy technologies; the creation of clean energy supply; and the demand for electricity from clean, renewable sources in Connecticut in order to strengthen Connecticut’s economy, protect community health, improve the environment, and promote a secure energy supply for the state. CCEF’s funding comes from a surcharge on electric ratepayers’ utility bills. For more information on CCEF, please visit www.ctcleanenergy.com.
About Connecticut Innovations, Inc.
Connecticut Innovations (CI) is a quasi-public organization dedicated to driving a vibrant, entrepreneurial, technology-based economy in Connecticut. CI stimulates high-tech growth by investing in: early-stage Connecticut technology companies; university/industry research collaborations; technology transfer; and, clean energy initiatives through the Connecticut Clean Energy Fund. CI also fosters collaboration among government, business, non-profit and academic organizations to advance technology growth and promotes public policies consistent with CI’s mission. Since 1995, CI has been the state’s leading investor in high technology and clean energy, investing over $180 million in companies, projects and programs. For more information on CI, please visit www.ctinnovations.com. |
