The first round of Connecticut’s Small Zero Emission Renewable Energy Credit (ZREC) Program is now scheduled to kick off on December 20th (see update below) and will remain open for at least two weeks. The Small ZREC Program is aimed at smaller solar photovoltaic systems, and provides solar system owners with an attractive and predictable cash flow stream (in addition to electricity cost savings).
The Small ZREC Program comes on the heels of the well-subscribed Large & Medium ZREC Programs which were carried out earlier in 2012 (see post).
For the Small ZREC Program, the 15-year ZREC price is pre-determined based upon a premium over the 2012 Medium ZREC tier, and will be $164.22 per ZREC for projects in CL&P territory, and $148.89 per ZREC for projects in United Illuminating territory.
Bottom-line for CT businesses: If your business has an open roof area of 15,000 square feet or more, or an acre or more of available land area, you may be a terrific candidate for this attractive solar incentive. Alternatively, if you were an unsuccessful bidder in the Large or Medium categories, you may be eligible to apply into the Small ZREC Program. Please contact EnterSolar to learn more about this opportunity.
On December 13, 2012, PURA approved CL&P and UI’s joint motion for an extension of time to defer the opening of the Small ZREC Program until Tuesday, January 8, 2013.
As a result, the Small ZREC Program’s “two-week window” is now scheduled to commence at 12:00 PM (noon) Eastern on Tuesday, January 8, 2013, and close at 12:00 PM (noon) Eastern on Tuesday, January 22, 2013.
The ZREC program provides CT facility owners with compelling opportunity to lock in highly attractive and contractual incentive payments from CL&P and UI. Please contact EnterSolar for additional information.