The Complete List of Connecticut Solar Incentives
Updated October 10, 2023
The state of Connecticut has recently announced their clean energy goals of reaching net-zero carbon emissions. This includes state approved financial incentives and programs to help CT homeowners convert to renewable solar energy, for less!
Read on to see the complete list of CT Solar Incentives or enter your zip code below to find out exactly which incentives and programs you qualify for!
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What are CT Solar Incentives?
Connecticut Solar incentives are financial programs and policies implemented to incentivize the adoption of solar energy systems. In CT, these incentives are designed to make solar installations more accessible and cost-effective for homeowners and businesses. They aim to offset the initial expenses of solar panel installations, shorten the payback period, and promote the use of clean and renewable energy sources.
By utilizing these incentives, Connecticut homeowners can benefit from various financial advantages, such as tax credits & exemptions, solar rebates, grants, solar buyback programs, and more! These incentives help contribute to a more sustainable way of providing power to CT and help residents save money when converting to solar energy.
Federal Solar Investment Tax Credit (ITC)
The federal solar investment tax credit, also known as the Green Energy tax credit, is a financial incentive provided by the U.S. federal government to promote the adoption of solar energy systems. This tax credit allows homeowners and businesses in Connecticut to deduct 30% of the total cost of their solar panel installation from their federal income taxes.
The federal solar investment tax credit has been instrumental in making solar energy more affordable and attractive to homeowners and businesses across the country, including Connecticut. It significantly reduces the total costs of going solar and helps to accelerate the return on investment for solar panel installations.
See Also: The Costs of Solar Panels in CT
Solar Property Tax Exemption in CT
In Connecticut, solar panels are exempt from property taxes.
Because solar panels are likely to increase the value (and aesthetics) of your home, Connecticut approved this tax exemption to ensure solar owners do NOT have to pay any additional taxes on their solar investment.
This means that homeowners and businesses with solar panels installed on their property can enjoy the financial benefits of increased property value without incurring additional taxes.
Solar Sales Tax Exemption in CT
In Connecticut, solar panels are exempt from the 6.35% sales tax.
This means that homeowners who invest in solar panels, are NOT required to pay the state mandated sales tax on thier solar investment!
The exemption aims to encourage residents to convert to solar energy and decrease the total & upfront costs of their investment.
Solar Net Metering in CT
Net Metering or Net Energy Metering (NEM) in Connecticut refers to a program that allows solar owners to sell their excess (and unused) solar energy back to the CT solar grid.
Because most solar systems can generate more power during the day, than your home will use, deciding what to do with your extra energy is a choice that you is yours to make. You can store that extra energy in solar batteries, sell the extra energy back to the CT solar grid, or both!
Selling your excess & unused solar energy is a great way for solar owners to earn extra income every month, further reduce any monthly energy costs, and reduce the time it takes for your solar panels to pay for themselves!
Find out if you qualify for solar savings programs!
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Local CT Solar Programs
Connecticut is known for its strong commitment to renewable energy and sustainability. In this section, we highlight the local solar programs and initiatives that demonstrate the state's dedication to harnessing the power of the sun. From community-led initiatives to non-profit organizations, these programs showcase the proactive steps taken by Connecticut residents to promote the accessibility and affordability of solar energy.
See Also: How to Get Solar Panels Installed for Free in CT
Energy Efficiency Loan Program
In addition to the solar rebate program, the government of Connecticut offers an Energy Efficiency Loan Program called the Smart-E Loan. This program provides eligible families with the opportunity to borrow up to $40,000 for a period of 5-12 years. The interest rates for these loans range between 4 percent and 7 percent. The Smart-E Loan is designed to support the installation of energy-efficient measures, including solar systems, and provides a convenient financing option to make these upgrades more affordable for homeowners in Connecticut.
Connecticut Green Bank Solar for All Program
In Connecticut, the Connecticut Green Bank offers the Residential Solar Investment Program (RSIP), which provides upfront cost reductions for purchased systems and compensation for leased systems based on the amount of solar power produced. The program aims to improve the rate at which you are compensated for extra solar power production. Additionally, the Connecticut Green Bank has the Solar for All Program, allowing eligible low-income households to access solar energy through a Power Purchase Agreement (PPA) at a special rate.
Solar Youth Education
Solar Youth is a non-profit organization in Connecticut dedicated to environmental education and leadership development for young individuals. They offer programs that focus on empowering youth and creating awareness about renewable energy through community solar projects. By engaging young people in sustainable initiatives, Solar Youth aims to cultivate a generation of advocates for environmental sustainability and promote the adoption of renewable energy practices in Connecticut.
Find out if you qualify for solar savings programs!
Do I Qualify?
Please enter a zip code
CT Solar Incentives
Connecticut offers a promising environment for solar energy with its abundant sunshine and growing support for renewable energy sources. By transitioning to solar power, homes and businesses in Connecticut can reduce their reliance on traditional energy sources, save up to 60% on electricity bills, and actively contribute to a cleaner and more sustainable future.
With a plethora of CT solar incentives, programs, and financing options available, going solar in Connecticut is now more affordable than ever. Start your solar journey today and explore all of your solar options with a Solar Savings Quote from EcoGen America, Connecticut's solar energy company!
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