Solar Programs & Tax Credits in Connecticut
Large-scale solar installations in Connecticut may qualify for several incentives and credits available to green energy producers within the state. In addition to the federal investment tax credit (ITC) and accelerated depreciation for renewable energy systems, there are a few other ways in which building managers and property owners in Connecticut can maximize the value of a solar energy system.
Property, Sales, and Use Tax Exemption
Once your project is financed, there are a very limited number of taxations on commercial solar energy installations in Connecticut. By law since 2014, Tier 1 renewable energy systems (i.e., solar panels, inverters, and batteries) have been completely exempt from property, sales, and use taxes on commercial and industrial properties throughout the state. With this, Connecticut property and building owners can save on upfront investment costs, without any additional expenses throughout the system’s lifetime.
Zero-emission Renewable Energy Credits (ZREC)
Renewable energy credits are offered to Connecticut residents at various levels, from residential to utility-scale installations. In the commercial sector, the state has made “ZRECs” available for accelerated payback of commercial solar financing. Credits are offered on a lottery basis with limited availability each year.
Shared Clean Energy Facility Program (SCEF)
In Connecticut, the Department of Energy and Environmental Protection (DEEP) debuted the state’s first shared clean energy facility (SCEF) program in late 2018. The program aims to sponsor 25 MW per year of new shared solar capacity throughout the state with a program total of 150 MW to be installed.
Commercial businesses and property owners can trust Pope Energy for comprehensive solar services in Connecticut and throughout New England. Our team is based in Boston, Massachusetts with the experience and expertise to deliver unparalleled value for solar financing services, energy procurement, O&M, and everything in between. Please contact Pope Energy today to learn more about our solar energy services.
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