Creates Savings for Homeowners
Solar for All is a partnership between the Connecticut Green Bank and PosiGen to bring solar and energy efficiency to underserved communities across the state.
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 1,500 solar installations for LMI homeowners in Connecticut.
- Connecticut Green Bank’s partnership with PosiGen has resulted in over 4,000 solar PV projects, collectively amounting to about 26.4 MW of new solar capacity. 67% of PosiGen’s projects in Connecticut are in LMI census tracts. (as of 3-31-2021)
- Connecticut Green Bank and PosiGen jointly run 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 is offered for households that earn less than 100 percent of area median income. Connecticut Green Bank’s LMI solar incentive is nearly three times its standard solar incentive.
- Solar for All is a public-private partnership that combines 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 185% between 2015 and 2018.
- The Solar for All program pairs 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 offers customers 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 from the Green Bank, allows PosiGen to offer affordable prices to customers.
- PosiGen’s solar offering is open to households regardless of their income or credit score. PosiGen employs alternative underwriting to qualify customers. Contracts have no upfront costs for participants.
- PosiGen guarantees customer savings without hidden fees or escalating lease payments over time. As a result, the program has 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 more information please see Solar for All program flyer or complete the form below: