Good timing equals big savings with solar
Updated: Sep 10, 2020
There are many incentives to go solar right now! Contact Louth Callan Renewables to walk you through the latest enrollments for updated solar incentives state by state. The Connecticut deadline for ZREC applications is July 13th and Rhode Island is also about to open up their enrollment period for the RI Regrowth Program.
Connecticut: If you are a commercial business don’t miss out on the lucrative investment opportunity to go solar in Connecticut right now! We are seeing peaked interest from businesses due to the new July 13th deadline for ZREC applications. Remember these project applications are a lottery, so we are encouraging our clients to move quickly.. CT incentivizes commercial solar system owners through the use of Zero Emission Renewable Energy Credits also known as ZRECS. ZREC projects can be small, medium, or large so if selected for the program, your solar project will have to meet state requirements based on number of kilowatts. Everytime your solar system produces 1 kilowatt hour of energy your company will earn one REC. This is an additional incentive to go solar on top of accelerated depreciation, energy savings, and the 26% federal tax credit that is scheduled to end in 2020. It’s free to apply so there is absolutely no downside to submitting your application.
Rhode Island: If you are a business in Rhode Island you can benefit from the commercial scale Renewable Energy Growth Program (REG). The Renewable Energy Growth (REG) Program supports the development of distributed generation projects in Rhode Island, and allocates 40 megawatts in specific technology and size classes. The program enables customers to sell their solar generation output under long-term tariffs at fixed prices. Each year the program is revised with new ceiling prices and megawatt allocation plans. Competitive enrollment periods happen three times per year and the latest enrollment begins 7/13/20 and ends 7/24/20. So,time is of the essence!
Rhode Island is offering additional incentives for businesses to invest in solar carports, as there is an additional 6 cents per kilowatt available for qualifying solar capacity installed on permanent carport structures. All payments are guaranteed through a 20 year tariff and enrollment begins through a bidding program on 7/13/20. Don’t miss out on these extra incentives available to Rhode Island businesses in addition to federal and state programs.
Contact Louth Callan Renewables at 860-814-4379 to have one of our experts go over all the incentives currently available in your state.