Construction near Completion for Solar Exhibit at the Energize Connecticut Center

Students work on exhibit for residents and business owners to learn more about solar energy

North Haven, CT (March 22, 2016) – Work is nearly completed on a new solar energy exhibit at the Energize Connecticut Center in North Haven.  The exhibit, being installed with the help of students from E.C. Goodwin Technical High School and Platt Technical High School, will allow children and adults to learn about the benefits of solar.

The Energize Connecticut Center is a place where adults and children may experience hands-on learning of energy efficiency and renewable energy concepts and solutions.  The facility is a museum and a resource center, staffed by individuals who help Connecticut residents and business owners make smart energy choices. The Energize Connecticut Center is part of the Energize Connecticut initiative, an effort of the Connecticut Green Bank, the State, Eversource, The United Illuminating Company (UI), the Connecticut Natural Gas Corporation (CNG) and The Southern Connecticut Gas Company (SCG).

The new solar exhibit educates people and businesses on the benefits of using solar energy.  It also teaches people how the technology works, describes the different steps in the process of going solar, and explains different ways to pay for solar such as different types of available financing structures. The exhibit was funded by the Connecticut Green Bank with the goal of educating Connecticut citizens and making the benefits of green energy clear.

The solar panels at the exhibit are being installed by students from the Connecticut Technical High School System. The school system trains students on how to properly install solar panels, preparing them for careers in the solar industry and equipping them with mastery of other technical skills. A recent survey from the nonprofit research group The Solar Foundation projects that solar jobs in Connecticut will grow by 6.8% in 2016, underscoring the importance of preparing students to work in this rapidly growing industry.

“We are very excited about the new solar exhibit at the Energize Connecticut Center in partnership with The United Illuminating Company, Eversource and the Connecticut Technical High School System,” says Bryan Garcia, President and CEO of the Connecticut Green Bank.  “As residents and businesses witness more and more solar energy being deployed in their communities, interest in more and more renewable energy and energy efficiency technologies will continue to rise. The Energize Connecticut Center’s solar exhibit not only offers a fun way to learn about solar PV technology but also underscores how simple the process of going solar actually is. I’m confident the Energize Connecticut Center’s solar experience will inspire more people to take control of their own energy use. Because the truth is, when more people in Connecticut make the decision to go solar, we grow businesses, we create jobs and we help people thrive.”

The Green Bank, which administers the Residential Solar Investment Program, an incentive program for homeowners who are going solar, reports that more than 17,000 homeowners in the state have already made the decision to go solar. The Green Bank offers financing programs for homeowners and business owners that make solar and other energy improvements more accessible and affordable.

Visitors are welcome to see the new exhibit at the Energize Connecticut Center, located in North Haven, Connecticut at 122 Universal Drive North. The Hours of operation are Monday – Friday 10:00 a.m. – 6:00 p.m. and Saturday 10:00 a.m. – 4:00 p.m. Admission is free.

About Connecticut Green Bank

The Connecticut Green Bank was established by Connecticut’s General Assembly on July 1, 2011 as a part of Public Act 11-80. This new quasi-public agency superseded the former Connecticut Clean Energy Fund. The Green Bank’s mission is to lead the green bank movement by accelerating private investment in clean energy deployment for Connecticut to achieve economic prosperity, create jobs, promote energy security and address climate change. As the nation’s first full-scale green bank, the organization leverages public and private funds to drive investment and scale-up clean energy deployment in Connecticut. For more information about Connecticut’s Green Bank, please visit www.ctgreenbank.com.

About Energize Connecticut

Energize Connecticut helps you save money and use clean energy. It is an initiative of the Energy Efficiency Fund, the Connecticut Green Bank, the State, and your local electric and gas utilities, with funding from a charge on customer energy bills. Information on energy-saving programs can be found at www.EnergizeCT.com or by calling 1.877.WISE.USE

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Town of Easton Unveils Solar Farm at Samuel Staples Elementary School

New System Will Generate 50 Percent of School’s Electricity

Rocky Hill, CT (November 12, 2015): The Town of Easton held a ribbon-cutting ceremony today to celebrate the commissioning of a new solar photovoltaic system at the Samuel Staples Elementary School today. The 301 kilowatt solar system is expected to generate half of the school’s electrical needs and is located on 1.4 acres in a field behind the school.

The Samuel Staples school building is designed like a large barn and the school leases some of the surrounding fields to local farmers to grow crops. Now, there will be one more crop – electricity – produced from the new solar farm.

Easton First Selectman Adam Dunsby was joined at the ceremony by State Representative John Shaban, Easton Board of Education Chairman Jeffrey Parker, Staples Principal Kimberly Fox-Santora, Easton Clean Energy Task Force Leader Cathy Alfandre, Northeast Energy Designs and Solutions LLC (NEEDS) Project Director John Dunster and Connecticut Green Bank EVP and Chief Investment Officer Bert Hunter. Students in two 5th Grade classes at the school also joined the celebration.

“It took the hard work of many people to make this solar project a reality,” said Mr. Dunsby. “I especially thank Easton’s Clean Energy Task Force who conceived of this project and stuck with it until it became reality.”

The system was installed with no up-front cost to the town and was financed, in part, under Connecticut Green Bank’s Solar Lease 2 program. The town will pay a fixed price per kilowatt hour of energy used under a Power Purchase Agreement, which should save the school hundreds of thousands of dollars over the 20-year term of the agreement. Funding will also be provided through the State’s Zero-Emission Renewable Energy Credit (ZREC) program, which will provide an income stream from The United Illuminating Company for power generated over the next 15 years, as well as a 30 percent federal tax credit.

The project enjoys the distinction of being the largest ground-mounted system under the Solar Lease program as well as the largest solar PV project on an elementary school supported by the Green Bank. It was developed by Bella Energy, based in Louisville, Colorado, and NEEDS, of Stamford, Connecticut.

“Connecticut Green Bank is creating innovative financial solutions – such as the CT Solar Lease used for this project – that make green energy a smart investment,” said Mr. Hunter. “We are working with schools and municipalities like Easton, as well as homeowners, businesses and institutions across the state, so they can affordably finance green projects with no up front costs. Together, we are leading the way to a stronger, greener future for Connecticut.”

Easton has a long history of supporting clean energy. In April 2006, it joined the original Clean Energy Communities program, now administered jointly by Connecticut Green Bank, The United Illuminating Company and Eversource. The Town has earned rewards from the Green Bank (or its predecessors) under that program, with which it installed a 5 kW solar PV system at Samuel Staples Elementary School and performed an energy audit at Helen Keller Middle School.

The town also conducted a successful Solarize ConnecticutSM campaign in 2013-2014 in partnership with the neighboring towns of Trumbull and Redding. Easton has joined the Commercial Property-Assessed Clean Energy (C-PACE) program administered by the Green Bank, which allows commercial property owners, multifamily properties with 5 or more units and non-profits to finance energy efficiency and renewable energy improvements through a voluntary assessment on their property tax bill.

“The Easton Clean Energy Task Force is excited that our rural, farming community now has a wonderful solar farm producing electricity for the school’s use, helping the town save money, and doing something good for the planet,” said Ms. Alfandre. “One of our Task Force members, Carroll Brooke, was the true visionary behind the project and worked incredibly hard for more than two years to bring it to fruition. He is proof that one person can make a difference, and we are lucky to have him in Easton.”

About Connecticut Green Bank

The Connecticut Green Bank was established by Connecticut’s General Assembly on July 1, 2011 as a part of Public Act 11-80. This new quasi-public agency superseded the former Connecticut Clean Energy Fund. The Green Bank’s mission is to lead the green bank movement by accelerating private investment in clean energy deployment for Connecticut to achieve economic prosperity, create jobs, promote energy security and address climate change. As the nation’s first full-scale green bank, the organization leverages public and private funds to drive investment and scale-up clean energy deployment in Connecticut. For more information about Connecticut’s Green Bank, please visit www.ctgreenbank.com.

 

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Contact:
Bob Wall
860-257-2354 (office)
203-581-0006 (cell)

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Connecticut Green Bank Partners with Utilities, Contractors, and Municipalities to Compete in SunShot Prize to Reduce Solar Installation Times

U.S. Department of Energy Competition will award monetary prizes

Rocky Hill, CT (September 30, 2015) – The Connecticut Green Bank, the nation’s first green bank,will participate in the SunShot Prize: Race to 7-Day Solar, a national competition that aims to reduce the time it takes to “go solar” across the country. Sponsored by the U.S. Department of Energy SunShot Initiative, Connecticut has a chance to win up to $100,000 in the first round of competition and up to $3 million as a first place grand prize winner.

The Green Bank will partner withConnecticut’s two investor-owned utilities, Eversource Energy and UIL Holding Corporation’s electric subsidiary The United Illuminating Company, solar installers, and a number of municipalities to form the Connecticut Permit to Plug-in Team. The team will takea strategic approach to identifying, creating, and implementing innovative practices that significantly reduce solar systeminterconnection times,while also striving to deploy10 megawatts of solar energy in participating Connecticut municipalities.

Currently, solar PV projects in Connecticut can take several months to complete. The team strives to reduce installation times by 75% and complete projects in less than 2 months.To achieve this goal, the Connecticut Permit to Plug-In Team will utilize a data-driven approach to quantify the impact ofeach team member’s role on solar installation timelines and gauge the success of strategies designed to fast-track project completion.

“This partnership between the utilities, solar contractors, municipalities and the Green Bank is a huge step forward for Connecticut,” states Bryan Garcia, President and CEO of the Connecticut Green Bank.  “We are excited to work together towards accelerating the adoption of residential solar PV in the state and significantly reducing the time it takes Connecticut homeowners to go solar.”

Throughout the competition, the Connecticut Permit to Plug-in Team will work towards achieving several targets and has the chance to earn monetary prizes for its accomplishments.The team will aim to install 1 megawatt (MW) of solar PV in participating municipalities by January 2016 and 3 MW by March 2016. The Department of Energy will award up to $100,000 in “Change Prizes”for these achievements.  These Change Prizeswill support the Connecticut Team in implementing strategies for significantly reduced solar project completion and ultimately winningthe first place grand prize of $3 million.The awards will be divided between the members of the team.

The competition begins on September 22, 2015 and will conclude on March 17, 2017. The Connecticut Green Bank will provide updates on the competition throughout its duration.

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About the Connecticut Green Bank

The Connecticut Green Bank (formerly the Clean Energy Finance and Investment Authority) was established by the Connecticut General Assembly on July 1, 2011 as a part of Public Act 11-80. As the nation’s first full-scale green bank, it is leading the clean energy finance movement by leveraging public and private funds to scale-up renewable energy deployment and energy efficiency projects across Connecticut. The Green Bank’s success in accelerating private investment in clean energy is helping Connecticut create jobs, increase economic prosperity, promote energy security and address climate change. For more information about the Connecticut Green Bank, please visit www.ctgreenbank.com.

About the SunShot Initiative

The U.S. Department of Energy SunShot Initiative is a collaborative national effort that aggressively drives innovation to make solar energy fully cost-competitive with traditional energy sources before the end of the decade. Through SunShot, the Energy Department supports efforts by private companies, universities, and national laboratories to drive down the cost of solar electricity to $0.06 per kilowatt-hour. Learn more about the SunShot Initiative and the SunShot Prize competition and rules.

For More Information, Contact:

Craig Connolly
Connecticut Green Bank
860-257-2352

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Crowdfunding of Homeowner Solar Installations Surpasses $1 million in Connecticut

Connecticut Green Bank, nation’s first Green Bank, successfully utilizes crowdfunding platform to finance innovative solar loans for homeowners

ROCKY HILL, Conn. – August 13, 2015 – The Connecticut Green Bank today announced that more than$1 million in loans has been sold to date to Mosaic, a solar finance crowdfunding platform,for residential solar installations funded throughout the state.

The Connecticut Green Bank is the nation’s first Green Bank to utilize a crowdfunding platform to help finance a residential solar loan product, which provides homeowners with the opportunity to own solar photovoltaic (PV) systems to lower energy costs. It also represents the first time that a pool of residential solar loans has been crowdfunded and offered to individual investors.

The crowdfunded loans have financed the installation of nearly 100 PV systems, deploying more than 735 kilowatts (kW) of clean energy to homeowners throughout the state.

In February 2014, the Connecticut Green Bank, Mosaic, and Sungage Financial, a specialty solar finance company that provides homeowners with easy, online access to low-cost loans to help them go solar, agreed to a $5 million deal to offer Connecticut homeowners crowdfunded loans for solar installations.

“The success of this initiative demonstrates both what a Green Bank is designed to do and that there is a new market for residential solar financing through crowdfunding,” said Bryan Garcia, Connecticut Green Bank President and CEO. “With our partners Mosaic and Sungage Financial, we have created an innovative new model for attracting private capital investment in residential solar projects, which is sure to help clean energy thrive in Connecticut and beyond. Additionally, the sale of the loans to Mosaic and its users will allow us to redeploy ratepayer capital that was invested in the loans to fund even more clean energy projects across the state.”

The loan product, originally designed by Sungage Financial in partnership with the Connecticut Green Bank, is the first of its kind and uses projected energy savings as a valuation tool for appropriately sizing the loans.Offered through participating solar installers serving the Connecticut market, the loan offer incorporates key protections for the homeowner such as guarantees on system performance.

The Connecticut Green Bank provided an initial $5 million commitment to fund origination of the consumer loans. Mosaic then bought these loans and offered the crowd the opportunity to invest, in return for a yield of approximately 5.5% over a 15-year term.Mosaic’s investors have fully funded the entire portfolio offered to date, with individual Mosaic users investing as little as $25 in this new asset class while benefiting from a very low-risk investment due to the pooling of the underlying solar loans.

“This offering proves that the clean energy economy is accessible and affordable to consumers, as well as to the small investor looking to promote clean energy while earning a good return,” said Garcia.

About the Connecticut Green Bank

The Connecticut Green Bank was established by Connecticut’s General Assembly on July 1, 2011 as a part of Public Act 11-80. This new quasi-public agency superseded the former Connecticut Clean Energy Fund. The Green Bank’s mission is to lead the green bank movement by accelerating private investment in clean energy deployment for Connecticut to achieve economic prosperity, create jobs, promote energy security and address climate change. As the nation’s first full-scale green bank, the organization leverages public and private funds to drive investment and scale-up clean energy deployment in Connecticut. For more information about Connecticut’s Green Bank, please visit www.ctgreenbank.com

About Mosaic

Mosaic is the first online marketplace to offer investments in solar projects. Mosaic, named the 5th most innovative energy startup by Fast Company, launched in January 2013 and has financed over $6M of solar projects with thousands of investors across the nation. To date, the company has had zero defaults and 100% on-time payments at 4.5-7% annually. For more information about Mosaic, please visit www.joinmosaic.com.

 About Sungage Financial

Sungage Financial offers the first solar loan product for the residential marketplace. Headquartered in Boston, Massachusetts, Sungage Financial partners with leading solar installers and institutional investors to provide a proprietary online platform that enables homeowners to efficiently apply, qualify, and contract for solar financing. Sungage Financial, which is committed to helping homeowners save more from their homes’ solar panels, launched its first lending program in Connecticut in March 2013 through a partnership with the nation’s first green bank, the Clean Energy Finance and Investment Authority. For more information, please visit www.sungagefinancial.com.

 

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Governor Malloy Tours Bridgeport House with Solar and Energy Efficiency Measures

An innovative public-private partnership that is making clean energy more accessible and affordable to families susceptible to rising energy costs

Bridgeport, CT (July 21, 2015) – Governor Malloy toured the house of Susan Young in Bridgeport on Tuesday,to view the installation of solar power and energy efficiency measures –financed through a public-private partnership between PosiGen Solar Solutions and the Connecticut Green Bank.  The innovative financing program combines a solar lease with an energy savings agreement to lower the energy burden of participating households.  Accompanying the Governor wereBryan Garcia, president and CEO of the Connecticut Green Bank, Thomas Neyhart, CEO of PosiGen, and Chris Anastasi, Sustainability coordinator for the City of Bridgeport.

In a concerted effort to extend the reach of the Governor’s renewable energy policies, the Green Bank teamed up with PosiGen, a New Orleans solar company that recently located its New England business in Bridgeport, CT.Focused on closing on what many see as a clean energy affordability gap, the partnership is designed to give people like Ms. Young access to an affordable solar leasing structure that will deliver energy savings for this often overlooked market segment.

“We are making Connecticut greener, cleaner and more efficient than ever before, and in the process we’re helping residents save on energy while creating thousands of new jobs in the industries of the future,” Governor Malloy said.  “These initiatives help the state meet the growing homeowner demand for residential solar, and we’re doing it through cost-effective solutions that increase private investment and use less ratepayer and taxpayer incentives.  Connecticut is helping lead the nation in the clean energy advancements of tomorrow.”

PosiGen focuses its efforts on improving the financial sustainability of low-to-moderate income families who are most susceptible to rising energy costs by reducing their energy consumption and providing opportunities to leverage state and federal incentives.  “We are excited to be partnering with the Connecticut Green Bank to enable innovative financing through a combination solar lease and energy savings agreement offering,” says Mr. Neyhart.  “We are making the combination of solar and efficiency upgrades more accessible and affordable for low-to-moderate income families that need to reduce their household energy burden.”

The Connecticut Green Bank is investing in PosiGen to provide low-cost debt capital and a tiered incentive for participating households in communities across the state.  “This partnership with PosiGen, and their private investors, will lower the energy burden on limited income households through financing and the deployment of clean energy,” states Mr. Garcia.  “As Connecticut continues to deploy more and more clean energy in our communities, we want to ensure that everyone has the opportunity to realize the benefits it offers.”

“I am excited to be one of the first homeowners in Connecticut to take advantage of the PosiGen offering to lower my energy costs,” says Ms. Young, theBridgeport homeowner.  “I was able to install a solar power system, insulation, water-savings aerators and CFL light bulbs, which are already providing energy savings that I can put to better uses for my households.”

“I am thrilled with the work PosiGen did on my house.  I did not think I could afford to install solar panels to help with my energy costs, however, the lease option made it possible, I am so happy to help protect our environment.  I encourage other homeowners to look into their options to cut down on their energy costs.”

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About the Connecticut Green Bank

The Connecticut Green Bank (formerly the Clean Energy Finance and Investment Authority) was established by the Connecticut General Assembly on July 1, 2011 as a part of Public Act 11-80. As the nation’s first full-scale green bank, it is leading the clean energy finance movement by leveraging public and private funds to scale-up renewable energy deployment and energy efficiency projects across Connecticut. The Green Bank’s success in accelerating private investment in clean energy is helping Connecticut create jobs, increase economic prosperity, promote energy security and address climate change. For more information about the Connecticut Green Bank, please visit www.ctgreenbank.com.

About PosiGen Solar Solutions

Headquartered in New Orleans, PosiGen Solar Solutions is one of the nation’s leading residential solar, energy efficiency and energy education providers. PosiGen has more than 6,000 residential customers, 165 direct employees and 150 contract employees in Louisiana, Connecticut and New

York. PosiGen’s unique services and products make solar energy affordable to homeowners ofall income levels, and offer individuals, families and businesses the opportunity to achieve greater fiscal autonomy and energy independence by lowering their utility bills. To learne verything about PosiGen, please visit www.posigen.com.

 

For More Information, Contact:

Gladys Rivera
Connecticut Green Bank
(860) 257-2351

Rebecca Brockway
McDowell Jewett Communications
(860) 604-6653

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Ribbon Cutting for New Solar Carport at the JCC of Greater New Haven

Commissioner Klee, Senator Crisco, First Selectwoman Scalettar and others to attend the July 16 Celebration

What:
Ribbon cutting for the new solar carport at the JCC of Greater New Haven, which officially launches this new, 755-kilowatt clean renewable energy source. This solar carport is one of the largest solar projects in the State of Connecticut financed by Connecticut Green Bank and one of the biggest solar carports in the region.

Who:
CT Department of Energy & Environmental Protection Commissioner Rob Klee
State Senator Joe Crisco (D-Woodbridge)
Ellen Scalettar, First Selectwoman, Town of Woodbridge
Bryan Garcia, President & CEO, Connecticut Green Bank
Scott Cohen, COO & CFO, JCC of Greater New Haven
Daniel Prokopy, CEO, Deutsche Eco Group
Paul Kuehn, Managing Director, Deutsche Eco Group

When:
Thursday, July 16, 2015, at 9 a.m.

Where:
JCC of Greater New Haven, 360 Amity Road, Woodbridge, CT

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For More Information, Contact:

Jennifer Gelband
Marketing & Communications Manager
JCC & Jewish Federation of Greater New Haven
203-387-2522 x380

Rebecca Brockway
McDowell Jewett Communications
(860)604-6653 (c)
[email protected]

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Connecticut Homeowners Investing Heavily in Solar Reducing Energy Costs with Connecticut Green Bank Financing

More Than 10,000 Homeowner Participants to Date; Solar Demand in State More Than Doubling Annually; Connecticut Third in U.S. for Economic Potential of Residential Solar Systems

ROCKY HILL, Connecticut, March 3, 2015 –- More than 10,000 Connecticut homeowners have invested in solar panels to date, drastically reducing their electric bills and taking advantage of decreasing solar installation costs. The Connecticut Green Bank’s Go Solar Connecticut initiative is poised to support the rapid expansion of solar with a suite of homeowner resources, including education, qualified installers, and financing.

Residential photo voltaic (PV) solar systems are more affordable than ever, given rising electric rates, declining installation costs, and flexible financing options for both leasing and ownership. Approved Go Solar projects have saved state residents an average of more than $1,100 per household on their utility bills.* And solar systems generate “free electricity” during their 25-to-30-year life cycles.

“Residential solar is growing exponentially in Connecticut,” said Bryan Garcia, President and CEO of the Connecticut Green Bank (formerly the Clean Energy Finance and Investment Authority), which directs Go Solar. “There has never been a better time to switch to solar energy. Solar demand in Connecticut is more than doubling every year, and the National Renewable Energy Laboratory recently ranked Connecticut third among states for favorable economics of going solar.”

Garcia added: “Going solar is a smart choice, particularly now with the widespread availability of financing, including no-money-down options for leasing and owning your system. Using reliable, pollution-free technology, these systems allow homeowners to take more control of their energy bills, making it easier to manage expenses over many years.”

Solar PV systems also increase property values without raising property taxes. Homes with solar panels sell twice as fast, on average, and at a premium compared with homes without solar panels.** Citing another important benefit, Garcia noted: “Installing a solar system contributes to economic development and creates jobs. Go Solar installations have created more than 2,000 jobs in the residential solar PV market in Connecticut. Converting to solar energy also helps the environment. Buildings produce about one-third of carbon emissions in the United States. Solar power can reduce a household’s carbon emissions by three to four tons a year –- the equivalent of planting more than 100 trees annually.”

“Our Go Solar program makes the move to solar energy easier and more affordable than ever,” said Kerry O’Neill, Connecticut Green Bank Director of Residential Programs. “We are very sensitive to how quickly a homeowner may become overwhelmed or confused while researching the benefits of solar. So we created a very user-friendly website for residents to learn everything they need to know at www.gosolarct.com. Not only will homeowners be able to get a better handle on the technology; they also can take advantage of attractive financing, including loans and leases, through a simple application process and attractive terms. Many of the local and regional solar contractors with whom we work also provide additional financing options.”

For even more savings, the Connecticut Green Bank is offering two free lease payments to any new customer who applies for the CT Solar Lease by March 31, 2015. O’Neill added that homeowners who go solar also have the opportunity to take advantage of additional incentives and tax credits. For an average solar installation, the incentive from the Connecticut Green Bank is 10 to 15 percent of the system’s installed cost. Factor in the federal tax credit, scheduled to expire Dec. 31, 2016, and a homeowner can enjoy a credit of 30 percent of a system’s installed cost, less the Green Bank’s incentive.

About Go Solar Connecticut

Go Solar Connecticut, available through the Connecticut Green Bank, provides state residents with easy, affordable financing options for solar photovoltaic (PV) systems for their homes. The program combines the resources of local lenders and contractors to help residents reduce their energy bills and take advantage of decreasing solar installation costs while building a clean energy future for Connecticut. Please visit www.gosolarct.com for more information, including 10 reasons to go solar, what qualifies a home for solar panels, video, a buyer’s guide, financing options, how to find a contractor, success stories and FAQs.

About The Connecticut Green Bank (formerly CEFIA)

CEFIA was established by Connecticut’s General Assembly on July 1, 2011 as a part of Public Act 11-80. This quasi-public agency, now known as the Connecticut Green Bank, superseded the former Connecticut Clean Energy Fund. The Green Bank’s mission is to lead the green bank movement by accelerating private investment in clean energy deployment within Connecticut and to achieve economic prosperity, job creation and energy security throughout the state. As the nation’s first full-scale green bank, the organization leverages public and private funds to drive investment and scale up clean energy deployment in Connecticut.

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Contact:
Deborah Burns
203.257.3163
[email protected]


* Based on Dec. 31, 2014 Connecticut Light & Power and United Illuminating electricity rates. Actual savings will vary, depending on the installation.

** The Effects of State Policy Suites on the Development of Solar Markets. NREL/TP-7A40-62506: November 2014. D. Steward and E. Doris National Renewable Energy Laboratory. www.nrel.gov/docs/fy15osti/62506.pdf

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Governor Malloy Announces Policy Proposal in Support of Solar on Homes

Solar PanelsGovernor Malloy is announcing a policy to expand investment in residential solar PV in Connecticut. As we have worked together with you on this through the fall and into the winter, the policy will expand the Residential Solar Investment Program target to no less than 300 MW by 2022 through the creation of Solar Home Renewable Energy Credits (SHRECs) to support the Class I Renewable Portfolio Standard (RPS) policy implementation.

This policy will:

  • Increase private investment of over $1 billion in the deployment of no less than 300 MW of residential solar PV in ConnecticutCreate 6,342 job-years in the growing industry and improve the state’s economy by $537 million
  • Save all ratepayers between $68-$186 million in Class I RPS compliance costs
  • This is an exciting moment for residential solar PV industry in Connecticut – and we need your attendance at the event to support Governor Malloy!

Details of the event:
Who: Governor Malloy, Rob Klee (Commissioner of DEEP) and Bryan Garcia (President and CEO of the Connecticut Green Bank)

What: Announcement of policy proposal to support solar on homes and jobs in Connecticut

Where: E.C. Goodwin Technical High School at 735 Slater Road in New Britain, CT 06053

When: Tuesday, February 10, 2015 at 11:00 a.m.

Why: This policy will attract more private investment in and deployment of residential solar PV in Connecticut providing benefits to all ratepayers and helping to sustainably build a growing industry

In preparation for the event, please confirm your attendance with our marketing director, Craig Connolly ([email protected]) and let him know if your company will be attending and how many members of your staff you expect to join this important event.

Again, we need your support behind Governor Malloy as he makes this important announcement!

Given the pending weather conditions, if details about the event or the announcement change, we will let you know Tuesday morning.

Regards,
Connecticut Green Bank

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Solarize Connecticut Wins “Project of Distinction Award” at PV America

Connecticut’s Green Bank, Yale, Duke & SmartPower Honored As “Driving Force” for Solar Energy

Boston, MA – Solarize Connecticut, a cutting-edge residential solar program that makes going solar easy and affordable, has been awarded the highly coveted “Project of Distinction Award” by the Solar Energy Industries Association (SEIA) and the Solar Electric Power Association (SEPA). The Award was presented at the Annual PV America Conference on Monday.

Solarize CTSolarize Connecticut is spearheaded by Connecticut’s Green Bank and is part of the US Department of Energy’s Solar Energy Evolution and Diffusion Studies (SEEDS). The entire program is a partnership with The Green Bank, SmartPower, Yale University and Duke University.

The 2015 Project of Distinction Award recognizes excellence in the industry, and to acknowledge that projects such as Solarize Connecticut and SEEDS Research are the driving force behind the success, growth, and future of solar.

“We are extremely proud of what the Green Bank and our partners have brought to Connecticut through the Solarize program,” stated Bryan Garcia, President and CEO of the Connecticut Green Bank. “The Project of Distinction award is truly an honor as it highlights the patent success of the Solarize model in bringing down the cost and accessibility of solar to Connecticut’s homeowners.”

“We’ve known that Solarize works,” said Brian F. Keane, President of SmartPower. “But to be recognized as ‘the driving force behind the success, growth and future of solar’ is a huge honor. To be sure, the real winners here, are the thousands of families across Connecticut who are now using solar power.”

“From providing a great educational opportunity to our student team at Yale to leading to cutting-edge research to truly helping Connecticut residents make an impact in meeting the state’s renewable energy goals, this collaborative project has been an unquestionable success,” said Ken Gillingham Assistant Professor at Yale University.. “We couldn’t be more happy to receive this recognition from PV America.”

“This has been an amazing collaboration between industry, government, and academia to study the factors that drive the success of the Solarize model,” said Bryan Bollinger, Assistant Professor of Marketing at Duke’s Fuqua School of Business.

Solarize is an increasingly popular program offered by the Connecticut Green Bank, formerly known as The Clean Energy Finance and Investment Authority (CEFIA), in partnership with SmartPower that increases residential solar through a proven formula. It relies on an on-the-ground outreach campaign that helps educate consumers while at the same time creating awareness and walks the consumer all the way from awareness about solar to actually purchasing it.  In Connecticut over 2,000 residential homes are now powered by solar energy as a result of the Solarize Connecticut Campaign.

About The Green Bank (formerly CEFIA)

CEFIA was established by Connecticut’s General Assembly on July 1, 2011 as a part of Public Act 11-80. This quasi-public agency, now known as the Connecticut Green Bank, superseded the former Connecticut Clean Energy Fund. The Green Bank’s mission is to lead the green bank movement by accelerating private investment in clean energy deployment within Connecticut and to achieve economic prosperity, job creation and energy security throughout the state. As the nation’s first full-scale green bank, the organization leverages public and private funds to drive investment and scale up clean energy deployment in Connecticut.

About SmartPower

SmartPower is the nation’s leading non-profit dedicated to helping Americans make clean energy decisions. Named the nation’s best non-profit marketing firm, SmartPower’s exclusive focus on energy efficiency and clean energy results in high visibility, high impact on-the-ground community campaigns designed to transform how customers use, adopt and invest in clean energy and energy efficiency.  www.smartpower.org.

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Contacts
SmartPower:
Brian F. Keane
202-775-2042

CT Green Bank:
Craig Connelly
860-257-2353

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CT Solar Loan Partner Graduates from Connecticut Green Bank

Sungage Financial’s $100 million partnership with DCU demonstrates “Green Bank” model succeeding in Connecticut

ROCKY HILL, Conn. (October 29, 2014)– The Clean Energy Finance and Investment Authority (CEFIA), also known as the Connecticut Green Bank (CT Green Bank), today announced that one of its earliest partners, Sungage Financial, has graduated from its CT Solar Loan pilot program with a $100 million partnership with Massachusetts-based Digital Federal Credit Union (DCU) for solar loans in Connecticut and three other states. The graduation marks the first time that a CT Green Bank product has fully transitioned to a private capital partner from the quasi-public financial support of the CT Green Bank. The CT Green Bank’s support of Sungage led to tremendous success and a positive growth outlook for the company, which attracted DCU’s $100 million commitment.

“The ultimate goal for all of our programs and product offerings is to attract private capital investment, transition away from ratepayer support and subsidies, and create a sustainable market for clean energy to thrive in Connecticut,” CT Green Bank Chief Financial Officer Bert Hunter said. “Sungage’s graduation from reliance on subsidized funding to self-sustainability through private capital exemplifies a successful Green Bank model at work here in our state.”

In 2012, the CT Green Bank and Sungage created the CT Solar Loan pilot, which became the industry’s first dedicated solar loan product not linked to a specific solar panel manufacturer, nor requiring any home equity or lien on the home. The Green Bank provided a $300,000 loan loss reserve, $1 million of subordinated debt and a $5 million warehouse for the CT Solar Loan.

The CT Green Bank selected the Boston-based startup Sungage to serve as program administrator of CT Solar Loan. The product provides homeowners with the opportunity to own solar PV with a small down payment and low monthly payments. Since March 2013, CT Solar Loan has financed over 200 projects, totaling nearly $5 million in loans while deploying more than 1700 kW of clean energy throughout the state.

“We are witnessing a solar boom in Connecticut,” Sungage Co-Founder and Chief Executive Officer Sara Ross said. “Over the past two years, Sungage has worked with CT Green Bank to successfully grow our business and help more homeowners access affordable, solar energy. We are excited to be entering this new phase of our business and are grateful to CT Green Bank for its support in getting us to this point.”

“The CT Green Bank is continually evolving with the success of our products, particularly when we create a marketplace for the private sector to step in and invest in clean energy in Connecticut,” CT Green Bank President and Chief Executive Officer Bryan Garcia said. “Congratulations to Sungage and DCU. This $100 million commitment by DCU allows us to move on to the next challenge, continuing to leverage limited public dollars to attract private investment, and advance the growth of Connecticut’s clean energy economy – an economy that makes clean energy more accessible and affordable to consumers while creating jobs and protecting the environment.”

About CEFIA (The Connecticut Green Bank)

CEFIA was established by Connecticut’s General Assembly on July 1, 2011 as a part of Public Act 11-80. This new quasi-public agency, now known as the Connecticut Green Bank superseded the former Connecticut Clean Energy Fund. The Green Bank’s mission is to lead the green bank movement by accelerating private investment in clean energy deployment for Connecticut to achieve economic prosperity, create jobs, promote energy security and address climate change. As the nation’s first full-scale green bank, the organization leverages public and private funds to drive investment and scale-up clean energy deployment in Connecticut.

About Sungage Financial

Sungage Financial is a marketplace that provides homeowners with easy, online access to low-cost financing for solar equipment. Headquartered in Boston, Massachusetts, Sungage partners with leading solar installers and institutional investors to help homeowners save money on energy. An innovator in solar finance, Sungage launched the nation’s first secured solar loan program in 2013 and received an award from the U.S. Department of Energy SunShot Initiative in 2014. The company is committed to helping homeowners save more through ownership. For more information, please visit www.sungagefinancial.com.

About DCU

DCU, based in Marlborough, Massachusetts, is a full-service, not for profit financial institution cooperatively owned by and operated for its members. Since being chartered in October 1979, DCU has been chosen as the credit union for employees and members of more than 800 companies and organizations along with their families. DCU, the largest credit union in New England, serves over 400,000 members in all 50 states. For more information, please visit www.dcu.org.

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Contacts
Justin May, on behalf of Connecticut Green Bank, 860-839-1538, [email protected]
Meredith Frazier, on behalf of Sungage Financial, 202-609-7622, [email protected]
John LaHair, on behalf of DCU, 508-263-6887, [email protected]

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