Solar installations may rise in Connecticut on support from state
The Clean Energy Finance and Investment Authority of Connecticut has designed a new program in an effort to encourage more residential solar installations throughout the state, the New Haven Register reports.
According to the news source, the "Race to the Rooftop" program will provide $10 million in incentives and subsidies to promote the use of 5.6 megawatts of new solar energy systems – enough to keep the lights on in 5,600 homes.
"The ultimate objective is to provide a smooth transition from ratepayer incentives to financing solutions, leveraging a greater investment from private capital sources," said authority president Bryan Garcia. "The race is on to create jobs, support the local economy and ramp up the deployment of cleaner and cheaper energy throughout Connecticut."
According to Bloomberg, solar energy is seen as a savior from soaring energy costs in Connecticut, where residential electricity costs were the third highest in the U.S. in 2010, surpassed only by Hawaii and New York. Renewable resources – such as wind and solar – currently only make up a fraction of the state's energy usage, however the authority hopes the incentives will spur further growth.