Step 2: State Solar Incentives

Did you know? Connecticut Green Bank offers State Incentives, making going solar more affordable!

State Solar Incentives

The Residential Solar Investment Program ("RSIP") is a Connecticut Green Bank program that makes it easy and affordable for homeowners to make the leap to a solar-powered home. It offers two types of incentives: The Expected Performance-Based Buydown (“EPBB”) and the Performance-Based Incentive (“PBI”). 

The EPBB: For the purchase of a solar system for your home

The Expected Performance-Based Buydown (EPBB) incentive provides you with an upfront cost reduction based on major design characteristics of your system, such as panel type, tilt, shading, and orientation. The incentive is paid directly to your Eligible Contractor on your behalf when the system is complete.

System Size Incentive per Watt PTC

Up to 10 kW PTC

$0.487 per Watt PTC

10 to 20 kW PTC

$0.40 per Watt PTC

Connecticut Green Bank does not provide incentives for any portion of a system that exceeds 20 kilowatts PTC (kW PTC).

Systems with a Design Factor greater than 75% will receive this full amount. Systems with a Design Factor below 75% will receive an incentive adjusted according to the Design Factor.

Systems estimated to produce more than 100% of the customer’s annual household electric consumption will receive a slightly reduced incentive where the “Second 10 kW PTC” rate is applied to the portion of the system that overproduces.

Example 1:

A 7.5 kW PTC (or 7,500 Watt PTC) system would be calculated at 7500 * 0.487, equaling an estimated $3,653 rebate, as an upfront cost reduction paid to your contractor when your system is complete.

Example 2:

A 12.6 kW PTC or (12,600 Watt PTC) system would be calculated at (10,000 * 0.487) + (2,600 * 0.40), equaling an estimated $5,910 rebate, as an upfront cost reduction paid to your contractor when your system is complete.

The Connecticut Green Bank calculates an efficiency rating for each system based on major design characteristics, such as panel type, tilt, shading, and orientation. Your contractor will be able to determine an efficiency rating after conducting a site visit at your home. Most systems in Connecticut have an efficiency rating of 75% or higher efficiency rating and receive the standard rebate. Systems below 75% will receive a rebate reduced according to the efficiency rating.

Example 3:

A 7.5 kW PTC (or 7,500 Watt PTC) system with a 68% efficiency rating would be calculated at (7500 * 0.487) *0.68, equaling an estimated $2,484 rebate, as an upfront cost reduction paid to your contractor when your system is complete.

PBI: Lease a system with little or no upfront costs

The Performance-Based Incentive (PBI) is designed to allow homeowners to benefit from solar PV systems for little to no upfront cost. Under this model, an Eligible Third-Party PV System Owner owns the system and enters into a contract with the homeowner. The PBI is paid to the System Owner based on actual performance over the course of 6 years, and is used to reduce the homeowner’s monthly cost. Incentives are available for systems up to 20 kilowatts PTC.

System Size Incentive Per Kilowatt Hour

Up to 20 kW PTC

$0.039 per kWh for six years

Connecticut Green Bank does not provide incentives for any portion of a system that exceeds 20 kW PTC.

Systems with a Design Factor less than 60% are not eligible to receive a Connecticut Green Bank PBI.

Example 1:

A 7 kW PTC (or 7,000 Watt PTC) system that is estimated to produce 8,100 kWh in its first year would receive an estimated $1872 Performance-Based Incentive over six years. This incentive is paid directly to the system owner and is reflected in your lease or PPA price.