Sponsored by the Connecticut Green Bank, the Commercial Property Assessed Clean Energy (C-PACE) program lets you pay for green improvement – like a solar installation – over time with a voluntary benefit assessment on your property tax bill. C-PACE allows you to enjoy the benefits of a solar upgrade immediately while repaying the cost over time along with property taxes. With C-PACE you can:
Take control of your energy costs while increasing your bottom line with more predictable energy expenses
Upgrade your facility to make it more efficient for you, your employees, and customers
Partner with a reliable financing provider whose goals are to maximize energy and cost savings
With customizable financing options and terms of up to 25 years, C-PACE simplifies the process of financing your solar upgrade, so you can start saving money from day one.
Property Tax Exemption for Renewable Energy Systems
If you decide to deploy a solar energy system in Connecticut, you may be eligible for a 100% property tax exemption. That means you won’t have to pay any additional taxes on the increased value of your facility after installing your new solar photovoltaic (PV) system. Learn more about the details of the tax exemption here.
When you deploy your solar installation, you need to make sure you’re getting credit for all of the solar power your system generates. Connecticut has a net metering policy that credits your business for all of the extra electricity your solar panel system produces, so you can then use those credits when your system doesn’t generate enough power. Eversource Energy offers one of the most robust and most popular net metering programs for businesses in Connecticut.
The Solar Tax Credit (ITC)
2019 is the last year to take advantage of the federal Investment Tax Credit (ITC). The solar ITC offers a rebate of up to 20%of your system’s costs that will be deducted from your federal income tax. However, only businesses that purchase their PV systems outright (with either cash or through a solar loan) are eligible.