The Clean Energy Finance and Investment Authority (CEFIA) today launched the second round of project solicitations for the Commercial Solar Hot Water Program (Program). The Program has a $2,000,000 budget that will support approximately forty-five solar hot water projects on schools, restaurants, apartment houses, hospitals and other establishments that use a significant amount of hot water.
The Program is designed to facilitate the transition between CEFIA’s federally-funded Solar Thermal Rebate Program, which ended in April, and a more sustainable long-term program based solely on financing from Connecticut’s ratepayers.
This Program combines both approaches, giving applicants the opportunity to tailor the incentive package to their financing needs. It is a competitive Program – winning projects will be those that use CEFIA’s ratepayer funds most efficiently, with priority given to requests for financing, as opposed to outright grants. Projects approved for incentives in the first round, which closed on June 1, 2012, included two schools, an industrial plant, a food market and a waterfront resort.
Following this second round of applications, which closes on August 24, there will be two more solicitations, which are expected to close in October and late November. Currently, $450,000 is available for round 2, $900,000 has been allocated for round 3, and $575,000 for round four. All projects under this program must be completed by June 30, 2013.
Bryan Garcia, CEFIA President stated, “We are pleased to offer this “hybrid” incentive program to help ease the transition of the solar industry from subsidy-based incentives to a sustainable model based on financing alone. Solar Thermal systems offer a cost-effective source of clean and efficient hot water production that can pay back the capital costs in ten years or less through the savings in fuel costs. CEFIA looks forward to continuing to work with market participants and industry stakeholders.”
Commercial building owners interested in learning more about this program opportunity or to apply should visit www.ctcleanenergy.com/solarthermal.
About the Clean Energy Finance and Investment Authority
CEFIA was established by Connecticut’s General Assembly on July 1, 2011 as a part of Public Act 11-80. This new quasi-public agency supersedes the former Connecticut Clean Energy Fund. CEFIA’s mission is to help ensure Connecticut’s energy security and community prosperity by realizing its environmental and economic opportunities through clean energy finance and investments. As the nation’s first full-scale clean energy finance authority, CEFIA will leverage public and private funds to drive investment and scale-up clean energy deployment in Connecticut. For more information about CEFIA, please visit www.ctcleanenergy.com.