It may be a small state, but Connecticut’s solar power production is definitely mighty. According to Solar Energy Industries Association (SEIA), Connecticut is one of the fastest growing states in the solar industry and ranks 17th in the country in installed solar capacity. As of November 2014 Connecticut had the second highest average residential retail electric rates in the country, according to the latest information from the U.S. Energy Information Administration. That year, the average residential retail electric rates in the country at 19.87 cents/kWh, compared to a national average of 12.46 cents/ kWh. It seems that residents all over the state, especially Hartford, New Have, Norwalk, and more, have made a strong move toward solar energy as a way to cut costs and be less dependent on the utility companies.
If you’re currently a homeowner in this beautiful state, and you’re looking for ways to reduce your utility bill while increasing your home’s resale value and reducing your environmental impact, solar energy technology is a great resource to consider! Here are 5 things you should know about solar power and government incentives in Connecticut.
1. Costs have fallen…a lot. If you haven’t been keeping up with the implementation of solar systems, you may be surprised to know how much the up-front cost of installation has dropped. Solar panels are not just for the super environmental evangelists or eccentric billionaires anymore. Photovoltaic devices (a.k.a solar panels) are at an all-time low according to recent reports and are pretty darn affordable for most homeowners. Especially when you consider the amount of money you’ll be saving once you’re generating your own energy and not paying the premium cost for electricity from big utility companies.
2. Up-front rebates are available. Connecticut is a great state to adopt solar power because of its abundant amount of sunshine and it has both sate and federal tax incentives that benefit consumers. Connecticut’s Residential Solar Incentive Program provides rebates that significantly lower the out-of-pocket costs to homeowners. Incentives are tiered, with the first tier at up to 10 kilowatts (kW) for utility consumption equaling the last 12 months of electricity usage determined from utility bills. Learn more about Connecticut state and federal tax incentives.
3. There are more than 154 solar companies in Connecticut. Another advantage of the booming solar industry is the jobs created in the local community it serves. According to SEIA, there are more than 154 solar companies at work in Connecticut, employing 2,000 people. As with any major purchase decision, you should spend time in choosing the solar installer that’s right for you. As Connecticut Attorney General George Jepsen said in a statement, its important to get multiple itemized quotes that allow you to compare component and installation costs for the system size that is appropriate for your house. “They should work with only licensed contractors and reputable companies and make very sure that they know all the facts before signing a contract,” said Jepsen.
Luckily, here at 123SolarPower, we’ve made that process very easy for you.
By inputting your information in the form below, you can compare quotes from a multitude of certified solar installers in Connecticut, fill out the short form below.
4. You are increasing your home value with solar panels. If you’re afraid that installing solar power on your home will make it difficult to resell, the opposite is actually true. The U.S. Department of Energy's Office of Energy Efficiency & Renewable Energy states that a solar home will sell twice as quickly as a home without solar panels, and the U.S. Department of Housing and Urban Development reports that energy-saving improvements "attract attention in a competitive market."
5. Large retailers are jumping onboard. This one is mostly a fun fact to know for trivia night! Many large retailers in the area have been leading the way in solar production like Walmart, Kohl’s, Staples, and Target. To top them all, Ikea has installed one of the largest corporate solar panel systems in the state with 940 kW of solar capacity at their location in New Haven. Clearly, businesses are taking solar power seriously and will hopefully continue to set the trend for homeowners as well!