Connecticut Clean Energy Fund to Finance State's Largest PV System

April 2006

The Connecticut Clean Energy Fund (CCEF) announced in early March that it will provide $1.7 million to finance the largest photovoltaic (PV) project ever built in Connecticut. The funding for the 433-kilowatt (kW) solar project is a part of the CCEF On-Site Renewable Distributed Generation Program. Through this program, CCEF buys down the initial cost of renewable energy generating equipment and provides low-interest construction financing.

The project signifies a milestone for CCEF, which has now supported development of more than 100 solar PV systems statewide. Chandler J. Howard, president and executive director of Connecticut Innovations, which administers CCEF, said, "The CCEF is pleased to be able to play an active role in making clean energy systems such as solar PV more economically feasible for businesses and consumers. Increased use of these systems demonstrates that clean energy is here and working right now, and the power these systems provide serves as an important hedge against future rate increases." For details, see the CCEF March 13 press release.

The Connecticut Clean Energy Fund promotes the development and commercialization of clean energy technologies and educates state residents about the importance of clean energy technologies for the state's energy future. CCEF's funding comes from a surcharge on electric ratepayers' utility bills.

Source: March 2006 edition of Connecticut SmartPower.