Connecticut solar incentive program

Ranked 13rd in the country with an average 11% return on investment.

Connecticut’s solar program has recently been restarted. they offer a combination of  a grant, plus the ITC, plus SRECS

The Federal Tax Credit for Solar

The ITC, or the federal income tax credit for solar, is calculated to cover 30% of your installation cost. This amount is uncapped, and is a pure credit. There are no requirements or restrictions in qualifying for this credit. It applies to all grid-tied solar electric systems.  You fill out the appropriate form on your federal tax return, and you’ll get your money as a refund. If you do not owe enough taxes to cover the full tax refund amount, you can roll over your credit to the following year and for the next 5 years.

Residential Solar Investment Program

The current Connecticut grant is $1.75 per watt for the first 5 kW AC and $.55 per watt for the next 5 kW AC, which may be adjusted based on expected performance. The maximum grant available is 35% of the total project costs up to $11,500. For homeowners who lease a solar PV system there is a performance-based incentive (PBI) available to the third party system owner.

SRECS

Connecticut Solar Renewable Energy Certificates (SRECs)

Connecticut residents receive SRECs for their electrical production. SRECs are sold to utility companies annually. One credit is issued for each 1,000 kilowatt hours your solar panels generate. You can sell these SRECs yourself of have them sold through a broker.

 

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