There are various incentives offered by the Connecticut residential solar investment program that make the installation of solar panels much easier. You can be exempted from taxes and reduce the upfront cost of the solar power system. To increase the usage of solar power, solar investment programs can help walk you through the process of solar power system installation and enjoy the benefits.
Solar Power Rebates
A rebate is a cash incentive for going solar, which is subtracted directly from your upfront costs. Solar rebates are normally granted through programs that are managed by governments or utility companies.
Bonus Payments Per Kilowatt Hour
Tax benefits and rebates can be used to lower the net cost of solar power systems. Solar power systems can also increase cash flow through the Connecticut residential solar investment program.
Owners of solar power systems receive money for every kilowatt-hour generated when performance payments are available. For example, if the local electricity rate is 15 cents/kWh plus an incentive of 5 cents/kWh, the total benefit is 20 cents/kWh.
Low-Interest Loans
You’ll find renewable energy loans at below-market interest rates. These loans are offered at lower interest rates to encourage homeowners to install and upgrade their solar power systems.
SRECs
A number of states allow homeowners to get credits from the solar power they generate, called SRECs (Solar Renewable Energy Certificates). These credits can be sold to utilities through local markets.
A utility company purchases SRECs to meet its Renewable Portfolio Standards (RPS), which define the proportion of electricity generated by renewable sources that the company produces. For more information, please visit Green Power Energy.
