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January 2022 Newsletter
CT Clean Energy Industry Jobs Report Released;
Webinar to Present Findings on Feb. 2
Connecticut’s clean energy industry has remained resilient and is positioned for future growth, despite the continued impact of the COVID-19 pandemic, according to the recently released 2021 Connecticut Clean Energy Industry Report. This report highlights that Connecticut’s clean energy economy was more resilient than other states in the region and the nation overall. Total clean energy employment in Connecticut declined by only six percent in 2020 to 41,488 jobs; compared to a nationwide energy employment decrease of nine percent and neighboring state declines ranging from seven to 16 percent.
A webinar presenting the report’s findings to press, industry partners, and other stakeholders will be held on Wednesday, Feb. 2, from 12 to 1 pm. To register for the webinar, visit https://attendee.gotowebinar.com/register/1737419007598298123.
Energy Storage Solutions Officially Launched
Connecticut’s Public Utilities Regulatory Authority (PURA) launched Energy Storage Solutions, a statewide electric storage program for all Eversource and United Illuminating (UI) residential, commercial, and industrial customers in an effort to foster a more reliable and resilient electric distribution system, especially for vulnerable communities.
Energy Storage Solutions will be administered by the Connecticut Green Bank, along with Eversource and UI. The nine-year program officially launched on January 1, 2022, and will continue through at least December 31, 2030.
Customers interested in learning more should visit www.energystoragect.com.
Successful First Green Liberty Notes Offering
From Dec. 14, 2021, through Jan. 14, 2022, CGB Green Liberty Notes LLC, a Connecticut Green Bank subsidiary, offered its first Green Liberty Note crowdfunding campaign, and successfully raised 180% of its target ($180,000) in a month. This first-of-its-kind offering was launched on Dec. 14, 2021, in partnership with Raise Green, a regulation climate tech marketplace for local impact investing. The Green Liberty Notes allowed citizens to invest in the Green Bank’s mission to confront climate change with as little as $100.
This initial offering of one-year maturity 1% coupon notes received an average investment of $1,600 and 75% of investments were $1,000 or less. Future issuances of Green Liberty Notes are expected every three months.
To sign up for notifications about future offerings, please visit invest.ctgreenbank.com.
Residential Solar Investment Program Surpasses Goals Ahead of Schedule
Achieving a public policy target is always worth noting. Accomplishing it a year ahead of schedule is a true highlight. In 2021, the Residential Solar Investment Program (RSIP) was able to do both.
Started in 2012, RSIP was designed to provide decreasing incentives to encourage homeowners to go solar. Its statutory target was 350 megawatts by December 2022. By late 2021, with more 43,000 solar projects completed on homes across the state, RSIP has generated more than 350 megawatts of solar deployment and mobilized over $1.33 billion of investment.
Green Bank’s 2021 Annual Report Released
The Green Bank recently released its 2021 annual report. To read the report, please visit https://www.ctgreenbank.com/strategy-impact/reporting-and-transparency/#toggle-id-2.
Building owners have a new way to go solar by leasing their roof
As a building owner, you are always seeking ways to improve your bottom line by cutting costs, adding new revenue streams, and making improvements. Have you considered putting your roof to work for you, similar to leasing space for a billboard or cell tower?