Additional $2.5 Million Authorized for Solar Energy Installations at Connecticut Affordable Housing Developments
New Funding Increases Access to Renewable Energy through CCEF’s Affordable Housing Initiative
Rocky Hill, Conn., July 9, 2008
Source: RenewableEnergyWorld.com
http://www.renewableenergyworld.com/rea/partner/story?cid=2950&id=53014
The Connecticut Clean Energy Fund (CCEF) board today announced authorization for an additional $2.5 million for CCEF’s Affordable Housing Initiative. The Affordable Housing Initiative is an incentive program that helps make solar photovoltaic (PV) installations an attractive, affordable option for developers of both small and large-scale affordable housing projects. Lise Dondy, president of CCEF, said, “We are excited to be rolling out this program on a large scale after our successful pilot. The additional funding will allow us to make the program incentives available to more developers across the state.” Dondy added, “As a result, more developers and tenants will now be able to enjoy the benefits of solar PV installations.”
Through the Affordable Housing Initiative, developers who install solar PV systems at affordable housing projects may apply for a grant to defray a portion of the upfront installation costs. In addition to benefiting from the financial incentive, developers will be helping the environment by reducing greenhouse gas emissions. Since the solar PV system will displace a portion of the electricity used, tenants will receive long-term financial benefits through stabilized electricity costs.
Hartford Area Habitat for Humanity’s Family Services Director Karraine Moody remarked, “Habitat for Humanity is excited to be one of the first affordable housing developers in the Hartford area to install solar panels on its homes. We are grateful for the assistance provided by the Connecticut Clean Energy Fund and look forward to working with CCEF in the future to support the greening of Connecticut’s affordable housing.”
CCEF launched the Affordable Housing Initiative in November of 2006 with a small-scale “pilot” effort. Through that effort CCEF supported solar installations – now either under construction or completed – at six affordable housing sites in Connecticut: Mill Pond Village in Broadbrook, Rolling Ridge in West Haven, School House in Waterbury, Sunset Ridge in New Haven and two Habitat for Humanity developments in Hartford.
About the Connecticut Clean Energy Fund (CCEF)
CCEF was created by the Connecticut General Assembly and is funded by the electric ratepayers. CCEF’s mission is to promote, develop and invest in clean energy sources for the benefit of Connecticut’s ratepayers in order to strengthen Connecticut’s economy, protect community health, improve the environment, and promote a secure energy supply for the state. CCEF is administered by Connecticut Innovations, a quasi-public authority. For more information on CCEF, please visit www.ctcleanenergy.com.