Welcome to the first edition of “Green Bank Matters.” The Clean Energy Finance & Investment Authority (CEFIA), Connecticut’s green bank, will distribute green bank updates to stakeholders, including policy partners, citizens and businesses throughout Connecticut. The purpose of “Green Bank Matters” is to provide a quick quarterly update of our efforts. In today’s world, we recognize that individuals do not have the luxury of reading lengthy updates and this newsletter will be succinct and informative.
We would like to thank all of our partners and stakeholders for their commitment and incredible efforts in helping us support Connecticut’s clean energy goals.
Sincerely, Bryan T. Garcia CEFIA President & CEO
CEFIA releases FY13’ Annual Report—click HERE to review the report
SMART-E Loans support residential customers tackling smart energy projects. Click HERE for the latest video. Webinar
CEFIA will be hosting its first quarterly informational webinar on Wednesday, March 19th from 2:00PM – 3:00PM. Please click here to register.
Our mailing address is: Rocky Hill Office: 845 Brook Street Rocky Hill, CT 06067
Stamford Office: 300 Main Street, 4th Floor Stamford, CT 06901
Connecticut Going Solar –Nearly 2,800 Connecticut homes have gone solar since CEFIA launched the Residential Solar Incentive Program in 2012. These installations equate to nearly 20 MWs of new residential solar in Connecticut. In less than two years, CEFIA and the Connecticut solar industry are nearing two-thirds of the 30MW target of residential solar PV that the legislature set for 2022, while continuing to decrease prices and subsidies – ahead of schedule and under budget! While installed costs have decreased by approximately 20% and incentives have decreased by nearly 30% (equivalent today to a $55 ZREC price), demand continues to be strong – doubling every year since the program began. Recently, CEFIA launched Go Solar CT, a campaign that helps Connecticut residents learn about their options for going solar, and further supports the transition away from a subsidy model to financing products and solutions—providing innovative financing products that make solar more accessible and affordable to consumers. None of this would be possible without the incredible efforts of the solar installer community.
Please visit www.gosolarct.com for additional information on solar and financing options. Please also visit www.energizect.com/smallsolar for additional information including the weekly market watch reports. CEFIA and Norwich Public Utilities “Energize Norwich” CEFIA, Norwich Public Utilities (NPU), and SmartPower have partnered together for “Energize Norwich,” a program designed to help Norwich residents make the switch to natural gas supported by innovative Smart-E Loan financing with CorePlus Federal Credit Union and Eastern Savings Bank. Based on the Solarize model, Energize Norwich has helped more than 370 customers convert to cleaner and cheaper natural gas. These conversions are not only benefitting households, but they are also keeping the working crews busy – helping create jobs and supporting local economic development. Click here to learn more. C-PACE Anniversary Celebration — CEFIA recently celebrated the 1-year anniversary of the C-PACE program. Approximately 100 guests attended the event at the Bushnell Center For The Performing Arts to celebrate the program’s success as well as to recognize 16 properties and 12 property owners that have “set the PACE” in Connecticut. Among those the program partners celebrated were policymakers, contractors, property owners, The United Illuminating Company, Connecticut Light and Power Company, municipal officials and distinguished members of the general assembly. Collectively, these 16 projects have or will deploy more than 1 megawatt of clean energy (solar PV) and are estimated to save $25 million dollars and 31,000,000 MMBtu over the life of the projects. Additionally, on average each facility is expected to achieve a reduction of between 40-50% of their energy consumption. To date, 78 of Connecticut’s 169 cities and towns have agreed to support C-PACE. This means that over 80 percent of commercial and industrial customers now have access to low-cost and long-term financing through C-PACE. C-PACE is an economic development tool for cities and towns, a tool to help contractors get business, and a program that supports important energy improvements for property owners so that they can save on their energy bills. Please visit www.energizect.com/c-pace. New Crowdsourced Residential Solar Loans Available CEFIA has partnered with Mosaic, Sungage Financial and the Hampshire Foundation, Inc. to offer crowdsourced loans specifically for residential solar installations throughout Connecticut. The $5 million pool of capital will support loans provided to homeowners to ‘go solar’. CEFIA has supported nearly 2,800 projects over the past two years through the Residential Solar Investment Program. This latest CEFIA financing partnership will provide additional low-cost and long-term capital and further support consumer access to more affordable cleaner and cheaper energy. To learn more please visit www.energizect.com/ctsolarloan and www.energizect.com/smallsolar. Newsworthy