Three webinars will cover the Residential Solar Investment Program, solar loans, leases, and third-party ownership programs, as examples of models to reduce greenhouse gas emissions, deliver benefits to low-income communities, and mobilize private capital leveraging public funds.
Hartford, CT (April 19, 2023) – In an effort to celebrate Earth Day 2023 and share lessons learned on residential solar incentive and financing programs, the Connecticut Green Bank will present a multipart “Spotlight on Residential Solar in Connecticut” webinar series. The series aligns with the opportunities created by the U.S. Environmental Protection Agency’s (EPA) Greenhouse Gas Reduction Fund’s zero emissions technologies for low-income and disadvantaged communities, which will allow states, municipalities, tribes, and others to reduce greenhouse gas (GHG) emissions and other air pollutants, deliver benefits to low-income and disadvantaged communities, and mobilize financing and private capital to stimulate additional deployment of such projects.
Webinar One: Residential Solar Investment and Deployment in Connecticut: An In-Depth Review of a 10-Year Incentive Program (2012-2022), Thursday, May 4 at 12 pm EDT
The first webinar will provide an in-depth review of a residential solar incentive program administered by the Green Bank, including the market, policy, and practices that enabled 380 megawatts (MW) of residential solar deployment across nearly 50,000 rooftops, including low-to-moderate income families. It will explore housing, solar potential, electricity rates, and data demonstrating the associated benefits, including jobs, reduction in energy burden, and GHG and other air pollutant avoidances, from investment and deployment of residential solar in vulnerable communities.
Webinar Two: Financing Residential Solar in Connecticut #1: Insights into Loan Programs, Monday, June 5 at 12 pm EDT
The June webinar will focus on the role of financing, delving deeper into the structure and benefits of two loan products: the CT Solar Loan and the Smart-E Loan. Using $8 million of repurposed American Recovery and Reinvestment Act (ARRA) funds as credit enhancements, the Green Bank was able to use $25 million in state and federal funds to mobilize $180 million of private capital investment in residential clean energy deployment. In a venture with Sungage Financial, the Green Bank supported a clean energy finance entrepreneur in demonstrating the viability of a specific solar loan product. In collaboration with nine local community banks and credit unions, the Green Bank’s Smart-E loan provides a second loan loss reserve for unsecured financing of clean energy projects, including residential solar.
Webinar Three: Financing Residential Solar in Connecticut #2: Insights into Lease and Third-Party Ownership Programs on Thursday, August 3 at 12 pm EDT
The final webinar in the series will focus on two lease products: the CT Solar Lease and Solar for All. Through the leveraging of ARRA funds as credit enhancements, the Connecticut Green Bank provided access to lease financing for local contractors, in partnership with a syndicate of local lenders and tax equity providers. In recognition of the need to provide access to capital to low-income and vulnerable communities, in partnership with PosiGen, the Green Bank launched the Solar for All solar and energy efficiency lease product. This session will look at the structure of these lease financing products, including the various benefits that result from increasing easy and affordable access to residential solar, especially for vulnerable communities.
Join this multipart webinar series to understand how the Connecticut Green Bank, working in collaboration with its state partners, contractors, capital providers, and community-based organizations, developed its residential solar policies and market through incentive and financing programs, including a focus on low income and disadvantaged communities. This webinar series will provide an opportunity for stakeholders to provide public comments on Connecticut’s efforts to assemble a competitive proposal under Section 134(a)(1) of the Greenhouse Gas Reduction Fund.