Connecticut to help finance residential solar projects
The Connecticut Clean Energy Finance and Investment Authority is pioneering innovative financing methods that make rooftop solar systems more affordable and accessible for consumers.
Through the Energy Department's SunShot Rooftop Solar Challenge, the Connecticut Clean Energy Finance and Investment Authority is pioneering innovative financing methods that make rooftop photovoltaic systems, and now solar thermal systems, more affordable and accessible for consumers. CEFIA is the nation’s first “green bank,” leveraging public and private funds to scale up clean energy use in Connecticut. It was created in 2011 and set a target of installing 30 megawatts of residential PV by the end of 2022.
“We, as a green bank, want to be an enabler of those that are already in the market,” said Bert Hunter, chief investment officer for CEFIA. “We are not looking to become the Fannie Mae of energy efficiency or renewable energy. We want to actually incent private capital into the market, so we’re going to operate where there is a lack of capital or where capital is only available at a high cost.”