To help owners and residents of affordable multifamily housing in Connecticut have easier access to the benefits of solar energy and battery storage, the Connecticut Green Bank is proud to announce that their successful Solar Marketplace Assistance Program (Solar MAP) is now available to affordable properties with five or more units. This enhancement was enabled through passage of legislation in 2021, which expanded the definition of a residential customer as it relates to solar energy generation to include multifamily properties. Solar MAP for affordable multifamily properties will officially launch with an informational webinar presentation on Thursday, June 6 at 9 am.
Through Solar MAP, no-cost technical assistance is provided to affordable multifamily housing agencies, property managers, and owners to simplify and navigate the process of going solar (including battery storage) from start to finish. The program helps identify project sites, conduct feasibility and design solar installations. The Green Bank also provides the financing, incentives, and contractors to take projects from concept to completion.
Prior to 2021, affordable multifamily properties were defined as commercial properties, which compete for a capped incentive. Affordable multifamily properties can now access the Residential Renewable Energy Solutions program, which has no cap and will often provide benefits greater than the commercial incentive. The program also allows the tenants to share in the savings from the solar system. Solar MAP offers a lease arrangement to avoid complicated financing structures and easily share the benefits with property owners and tenants.
Affordable multifamily properties can also benefit from the Energy Storage Solutions program, which provides substantial incentives that help tenants become more resilient in the event of a grid outage.
The Connecticut Green Bank has been awarded Greenhouse Gas Reduction Funds from the Environmental Protection Agency (EPA) that will be used to reduce the cost of capital for affordable multifamily housing projects - passing along meaningful benefits to tenants and property owners alike including more energy savings, increase in resilience from grid outages through storage, and more. Additionally, Green Bank has partnered with the Council of Governments and submitted an implementation application under the EPA's Climate Pollution Reduction Grant. This grant funding, if awarded, will be utilized to help deploy solar energy and battery storage in vulnerable communities and address other barriers to solar projects, such as scenarios where new roofs or structural upgrades are required prior to installation, or where interconnection is cost prohibitive.
Since 2020, Solar MAP has supported solar project development at state and municipal properties, including the Towns of Manchester, Portland, Mansfield, and Branford. Future rounds of the program will support the state's 10 megawatt per year solar goal and growing interest from all sectors in battery storage.
Anyone interested in learning about Solar MAP for affordable multifamily properties can register for the June 6 webinar at: https://www.ctgreenbank.com/events/solar-map-for-affordable-multifamily-housing/.
About the Connecticut Green Bank
The Connecticut Green Bank was established by the Connecticut General Assembly in 2011 as the nation's first state-level green bank and has since supported the creation of more than 27,000 green jobs in the state, while reducing the energy cost burden on over 69,000 families, businesses, and nonprofits. The Green Bank's vision is a planet protected by the love of humanity and its mission is to confront climate change by increasing and accelerating investment into Connecticut's green economy to create more resilient, healthier, and equitable communities. This is accomplished by leveraging limited public resources to scale-up and mobilize private capital investment into Connecticut. In 2017, the Connecticut Green Bank received the Innovations in American Government Award from the Harvard Kennedy School Ash Center for Democratic Governance and Innovation for their "Sparking the Green Bank Movement" entry. To date, the Green Bank has mobilized nearly $2.5 billion into the State's green economy. This has reduced the energy costs for thousands of families and businesses, and reduced greenhouse gas emissions that cause climate change and worsen public health.
Learn more at www.ctgreenbank.com.
For More Information, Contact:
Rudy Sturk (rudy.sturk@ctgreenbank.com)
