The Clean Energy Finance and Investment Authority (CEFIA) announced today (April 9) that just one month into a new Residential Solar Investment Program, it has already approved 126 applications for installation of photovoltaic rooftop systems (solar panels).
About the Program
Under Public Act 11-80 (approved by the Connecticut General Assembly and signed into law by Gov. Dannel P. Malloy), CEFIA is charged with supporting the installation of at least 30 megawatts of new residential PV systems by 2022.
The program provides support to residents who wish to own or lease a solar PV system.
CEFIA is in the process of developing a webpage dedicated to program results.
CEFIA was established by Connecticut’s General Assembly on July 1, 2011 as a part of Public Act 11-80. This new quasi-public agency supersedes the former Connecticut Clean Energy Fund.
CEFIA’s mission is to promote, develop and invest in clean energy and energy efficiency projects in order to strengthen Connecticut’s economy, protect community health, improve the environment, and promote a secure energy supply for the state.
As the nation’s first full-scale, clean energy finance authority, CEFIA will leverage public and private funds to drive investment and scale-up clean energy deployment in Connecticut.
For more information about CEFIA, please visit www.ctcleanenergy.com
Strong public interest
In a press release, CEFIA President Bryan Garcia states:
“The initial response to our new program has been dramatic, demonstrating strong public interest in solar power and the dynamic nature of our state’s solar industry. “
“We will be providing approximately $1.4 million in funding for these first 126 installations – leveraging $2.8 million of additional private capital, which will produce more than 800 kW of new residential solar capacity.”
“We are well on our way to developing a scenario for the long-term success of residential solar installations that will contribute to bringing cleaner and cheaper energy to Connecticut.”
“Under this scenario, we will ramp up consumer demand, drive down the installed costs, offer consumers attractive financing, and provide a suite of opportunities that ensures the presence of a viable solar PV industry here.”
Garcia also noted that more than one-third of the 70 approved installation companies in CEFIA’s program have been involved in submitting the initial applications for the solar installations.
Ed Steins, Regional Director for the North East SolarCity, states, “We have set up shop in Connecticut and are excited to offer homeowners and businesses the chance to pay less for solar electricity than they pay for utility power.”
“SolarCity expanded to Connecticut in large part due to the efforts of the state – through programs at Connecticut Clean Energy Finance and Investment Authority (CEFIA) and the Department of Energy and Environmental Protection (DEEP) – to promote, develop and invest in clean energy and energy efficiency projects,” Steins says.
CEFIA’s release states that the agency “intends to exceed the goals established in the legislation by incorporating financing options for consumers, energy efficiency, consumer aggregation, and other mechanisms to support residential solar PV across Connecticut.”
For more information about the Residential Solar Investment Program, visit www.ctcleanenergy.com/solarhome
Posted April 9, 2012
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