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Solar PPA

General Information and Structure

Connecticut Green Bank
Lending Type: 
Green Bank

The Solar Power Purchase Agreement (PPA) allows building owners to experience the benefits of solar energy without the responsibility of owning or maintaining a solar PV system. Through the Solar PPA program, building owners can buy the energy they need with no monthly fee and benefit from significant savings on electricity costs. Under a Solar PPA, the electricity rate is immediately less than existing utility bills, so owners begin saving money on day one. The solar system is installed, insured and maintained as part of the PPA contract for 20 years. Connecticut Green Bank provides full warranty management on all equipment. Multifamily property owners have the option to purchase their installation after 5 years. When the agreement term ends, the owner can extend the PPA, purchase the system, or have it removed at no cost.

Active or Closed Program?: 
Years Offered: 
2013 - Present
Eligibility Criteria: 
5+ units. Income eligible and market rate can qualify.
Type of Financing: 
Energy Services
Loan Size Range: 
Type of Improvements Covered: 
Solar PV

Financing Details

When is the Product Applicable?: 
Interest Rate: 
Fixed and escalating rates available
20 years

Additional Information

Point of Contact: 
[email protected] and (860) 257-2333
Program Notes: 
Connecticut Green Bank prescreens installers, and owns, maintains and insures the system for the full 20 years.