Affordable multifamily properties can now access the benefits of solar for their residents, thanks to Connecticut’s expansion of the definition of a residential customer as it relates to solar energy generation through Public Act No. 21-48. To better serve these families, the Connecticut Green Bank plans to expand its Solar Marketplace Assistance Program (Solar MAP) to help fill the market gap and usher in more projects in this sector.
“In the past, affordable multifamily properties were defined as commercial properties and had to compete for a capped incentive. Now, affordable multifamily properties can access the Residential Tariff, which has no cap and will often provide benefits greater than the commercial incentive while allowing the tenants to share in the savings from the project,” said Mackey Dykes, VP of financing programs at the Green Bank. “Through Solar MAP, we have helped municipalities and state agencies navigate the complex process of going solar. We anticipate growing interest as we expand the program into the affordable multifamily housing sector and from other Connecticut communities working to achieve their sustainability goals over the next several years.”
Due to this anticipated future growth, the Green Bank is seeking new team members, a senior manager of market engagement and a solar project manager, to assist the Solar MAP program, specifically in the affordable multifamily market sector.
Solar MAP is in its fourth year and has supported the Towns of Manchester, Portland, Mansfield, Branford and multiple state facilities. Future rounds of the program will support the state’s 10 MW/year solar goal and growing interest from all sectors in battery storage and EV charging.
The Town of Manchester added systems at seven municipal buildings, including six schools, which are projected to save the Town more than $100,000 annually in energy costs and more than $2.1 million over the term of the power purchase agreements (PPAs).
The Department of Correction will install seven systems across their campuses as part of the program. The 8.3 MW of solar installations will provide 11 million kWh of solar electricity to their buildings, creating almost $800,000 in annual savings and nearly $20 million over the life of the installations.
News item from CT Green Bank