Formally known as the Connecticut Energy and Finance Investment Authority, Connecticut’s Green Bank plans to propose a “Solar Homes Renewable Energy Credit” or SHREC.
Dykes said Connecticut’s Green Bank has yet to complete a report analyzing whether Connecticut’s Commercial Property Assessed Clean Energy incentive program can be extended to the residential market. Under a residential PACE program, homeowners could get upfront cash to install solar panels or other renewable energy or efficiency systems, paying the money off through surcharges on property tax bills.
Residential PACE programs have hit snags nationally, due to uncertainty over whether a first lien on any property would go to municipalities that are owed property tax surcharges or banks, which hold mortgage rights. Read more.