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Connecticut Solar Incentive Structure: Converting a Grant to a Loan
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EBPP Grant: State grant can be reduced, homeowner still receives discount from grid-power
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Installer
State Homeowner [11.9 ¢/kWh]
$8,984 grant
$22,515 cash
System worth $31,500 - profit
Fed Govt
$6,755 ITC
35% discount on electricity
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Performance Incentive: Incentive to third-party owners still allows significant discount to homeowners
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Installer/ Owner
[13.4 ¢/kWh]
State Homeowner
$7,940 grant
($.18/kWh, 6yrs)
14.5 ¢/kWh PPA
System worth $31,500 - profit
Fed Govt
$6,755 ITC & Accel. Dep.
(5.7 ¢/kWh)
20% discount on electricity
Third-Party Ownership in CT Today
Homeowner [14.5 ¢/kWh]
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Hypothetical: Convert incentive to loan, less cost to state, minimal impact on homeowner, installer
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Installer/ Owner
[14.5 ¢/kWh]
State Homeowner
Loan Worth $6,042
16.4¢/kWh PPA
System worth $31,500 - profit
Fed Govt
$6,755 ITC & Accel. Dep.
(5.7 ¢/kWh)
10% discount on electricity
Third-Party Ownership in CT Hypothetical
Homeowner [16.4 ¢/kWh]
Convert grant to 10 year, 4% loan, repay all at maturity