Connecticut has ranked in the Top 10 of solar power installations for several years already, and the outlook is for that to continue, as more and more people throughout the state discover the numerous benefits of generating electricity via solar panels. The Governor and General Assembly of the state have demonstrated their commitment to renewable energy sources, and created an environment very friendly to solar power.
Options for Going Solar in Connecticut
A leasing agreement where the customer puts $0 down, and pays a monthly lease bill to a utility company for electricity is an attractive option from the standpoint of very little investment, coupled with long-term energy savings. But there are even more appealing options in Connecticut, if you have the cash to purchase a solar panel system for installation.
Purchasing a solar panel system brings even greater savings over time than the leasing option. Even taking a home equity loan out to make that purchase is worthwhile, because of the savings you can realize over a period of time. The return on your investment is still enormous, since the savings on solar power over traditional sources of electricity accumulates into big money.
Incentives for going solar
Connecticut has a very aggressive Renewables Portfolio Strategy (RPS), which mandates that a specific percentage of the state’s total electricity generation be sourced from clean, renewable sources such as solar power. By January of 2020, the state is committed to the generation of at least 27% of its total energy supply from renewable sources, with solar power the primary candidate.
The great thing about this is that utility companies will assist you in getting solar panels installed or leasing solar power to you – but not because they really want to. Utility companies lose money when you generate your own electrical power and even feed it back into the grid for sale to them, but because of the RPS mandate, they just don’t have a choice.
If the utility companies don’t comply with their target goal for generating electricity through renewable means, they can be heavily fined by the state – and that will amount to far more than their losses from home solar power customers. The state has also built up a fund called the Connecticut Clean Energy Fund, which has been earmarked for the creation of 30 megawatts of additional solar power by the end of 2022.
Solar power in Connecticut is thriving, and it has never been easier to jump on the solar bandwagon and start getting your share of the savings.