Connecticut is by far the best state in the country right now for getting energy efficiency and renewable energy projects completed right now for the following:
1. The Connecticut Green Bank is offering 100% financing for energy efficiency and renewable energy projects. Connecticut rolled out the first state-wide Property Assessed Clean Energy financing program. Terms are 5% to 6% for 10 to 20 year terms fully amortizing, non-recourse municipal liens that run with the property.
2. Renewable Energy Credit Program (LREC/ZRECs). Connecticut utilities are in the third year of a five year program that provides annual operating subsidies to renewable energy projects with low or zero emissions. Contracts are for 15 years and in the past two years have provided between five and twelve cents per kilowatt hour.
3. The financing and renewable energy credits can be combined with the federal solar tax credit which offers a tax credit up to 30% of the cost of the project.
4. Both major utilities United Illuminating and CL&P are offering significant rebates and incentives toward the cost of upgrading lighting and HVAC systems.
5. The costs of solar, LED lighting and other energy measures has dropped considerably in the past two years, shortening the payback period for energy investments.
The combination of these factors makes Connecticut the best state to execute energy efficiency projects.
The Connecticut Green Bank allows commercial property owners to generate immediate savings with no upfront investment.
