Created Savings for Homeowners (2015 – 2021)
From 2015-2021, Solar for All was a partnership program between the Connecticut Green Bank and PosiGen to bring solar and energy efficiency to underserved communities across the state. The now closed program has been nationally recognized for increasing accessibility and affordability of clean energy. PosiGen continues to serve the Connecticut market.
In 2015, Connecticut Green Bank launched a solar program for low- and moderate-income (LMI) homeowners. At its core, the program involves 1) an elevated LMI solar incentive, and 2) public support for solar providers to enter the LMI solar market. PosiGen was the first solar company to be approved for Connecticut Green Bank’s LMI solar incentive and to receive program support to enter the state’s LMI market. Since 2015, Connecticut Green Bank has successfully supported more than 3,000 solar installations for LMI homeowners in Connecticut.
- Connecticut Green Bank partnered with PosiGen on the Solar for All program from July 2015 through December 2021, when the Green Bank’s solar incentive program closed.
- Connecticut Green Bank’s partnership with PosiGen resulted in over 4,400 solar PV projects, collectively amounting to about 29 MW of new solar capacity. 67% of PosiGen’s projects in Connecticut are in LMI census tracts. (as of 12-31-2021)
- Connecticut Green Bank and PosiGen jointly ran targeted marketing campaigns in underserved communities. Approximately 60% of the resulting solar projects are in census tracts below the area median income. Previous community campaigns include Bridgeport, New Haven, Hartford, New London, Hamden, Greater Hartford, and Middletown.
- The program has been particularly effective at reaching communities of color.
- An elevated incentive was offered for households that earn less than 100 percent of area median income. Connecticut Green Bank’s LMI solar incentive was nearly three times its standard solar incentive.
- Solar for All was a public-private partnership that combined marketing and financing. Connecticut Green Bank supplied $5 million in debt capital and leveraged its initial investment to attract an additional $5 million from a private lender to start the program.
- Supported by the Solar for All program, solar in LMI communities in Connecticut grew by 320%between 2015 and 2020.
- The Solar for All program paired energy efficiency with rooftop solar to maximize savings. The model includes standard solar system sizing and fixed monthly pricing to reduce sales complexity and increase operational efficiencies.
- PosiGen provided customers with a solar lease. PosiGen and its financial partners own the systems and monetize the federal tax credit, which, coupled with an elevated LMI solar incentive provided by the Green Bank, enabled affordable and predictable prices to customers.
- Using alternative underwriting to qualify customers, the offering was open to households regardless of their income or credit score.
- Contracts have no upfront costs for participants and guarantee customer savings without hidden fees or escalating lease payments over time. As a result, the program experienced very few defaults.
New Report Highlights Connecticut’s Solar For All Program as an Example of Clean Energy Policy Innovation (https://www.ctgreenbank.com/cesa-report-highlights-solar-for-all-program/)
Hartford Habitat for Humanity Completes Zero Energy Ready Home (https://www.ctgreenbank.com/hartford-habitat-zero-energy-ready-home/)
Connecticut Green Bank Accelerates Adoption of Solar Energy in Communities of Color (https://www.ctgreenbank.com/sharing-solar-benefits-in-communities-of-color/)
For PosiGen’s current offerings, please visit www.SolarForAllConnecticut.com