The Connecticut Clean Energy Fund will reopen its commercial solar photovoltaic program with $3 million from the American Reinvestment & Recovery Act.
The program provides money for commercial facilities to install photovoltaic panels that convert the sun’s rays into energy. The program was shut down in January after awarding $77 million in funding because the Clean Energy Fund ran out of money for the program.
The Clean Energy Fund also has asked for an additional $8.9 million in state money for the photovoltaic program, although it is still waiting approval from the Department of Public Utility Control.
Connecticut is seen as a good market for solar because the state’s electricity rates are the second highest in the nation, making any renewable energy source financially attractive for businesses. U.S. Treasury grants also are available for commercial solar. Instead a 30-percent tax credit, businesess can receive a cash grant equal to 30 percent of installed costs of a photovoltaic system.
