(Connecticut) Governor Launches Residental Solar Leasing Program

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Governor M. Jodi Rell today announced a program to help low- and moderate-income residents cut their electricity expenses and build on the state’s commitment to renewable energy. The Connecticut Solar Lease Program, the first of its kind in the nation, is a new initiative designed to eliminate the high initial costs associated with the purchase and installation of residential solar photovoltaic systems. Through the Connecticut Clean Energy Fund (CCEF), a combination of rebates and tax credits can be used to lower the cost of leasing solar systems, helping more residents obtain clean, renewable solar energy.

“Connecticut is a national leader in promoting clean energy in a way that makes sense, and this exciting, innovative program proves that once again,” Governor Rell said. “With the national economy in a slump, with energy prices at frankly ridiculous highs and other prices – including food prices – headed for the sky, our families are looking for alternatives. The Clean Energy Fund is making solar energy a real possibility for many more Connecticut households by combining the success of its solar rebate program with the unique characteristics of this solar leasing program.

“By creating more opportunities for renewable energy sources, we can assist individuals, reduce energy costs, improve air quality and reduce our dependence on foreign sources of oil,” the Governor said. “Programs such as this are a key component of my agenda to keep Connecticut a leader in sustainability.”

This is the first time a ratepayer-funded organization such as CCEF has partnered with financial institutions to leverage federal tax credits in order to make renewable energy more affordable. CCEF is investing $38.6 million and hopes to help approximately 1,000 homeowners in the next three years. Residents with qualifying credit and whose household income is less than or equal to 150 percent of the median income in their area are eligible for the program. A Hartford family of four with a total household income of less than $121,000, for example, would qualify for a complete solar photovoltaic system with no down payment required.

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