Building owners can lock in electricity costs now with no money down
When every dollar matters, finding a way to control electricity costs can have a positive impact on building owners’ bottom lines. Through the Connecticut Green Bank’s Solar PPA, they can go solar and receive immediate electricity savings. A power purchase agreement, or PPA, enables commercial buildings to have a solar PV system installed and purchase the electricity it generates – often at a significant discount to grid power – with no money down and no stress, as the Green Bank oversees the development and management of the system.
No upfront installation costs and no new debt
Reduce your bill by locking in low electricity costs
Positive cash flow in year one
What is a Solar PPA?
The Solar Power Purchase Agreement (PPA) gives businesses and nonprofits an opportunity to go solar with no upfront installation costs, delivering immediate savings on electricity and offering peace of mind in knowing that an experienced third-party owns and operates your solar system to maximize its benefits.
Key features for building owners:
- Have no upfront installation costs and no new debt
- Can reduce their bill by locking in low electricity costs
- Create positive cash flow in year one
- Have peace of mind, because the Green Bank owns the system and is responsible for performance and maintenance
Eligibility requirements
Commercial and nonprofit properties
Properties must meet C-PACE financing requirements or – on an exception basis – alternative underwriting criteria. All types of privately owned commercial properties (industrial, office, retail, agricultural, multifamily, faith-based institutions, recreational facilities, museums, and more) that are current on their property tax (if applicable) and assessment payments can use the C-PACE program to make energy improvements. Nonprofits can be assigned a tax identification number to make payments through the program.
Municipal properties and other publicly owned institutions
Public properties and institutions can use the Green Bank Solar PPA to add solar to their buildings. Municipalities must have an investment grade credit rating in order to qualify, or otherwise subject to alternative underwriting criteria.
More information for contractors
It's easy to get started!
Partner with the Green Bank and to offer your clients competitive financing for any project.