One of the most ambitious and far-reaching renewable energy programs mounted by the Connecticut state is on the verge of being phased out in the next few months. For residential homeowners, this could be the last opportunity to take advantage of this one-in-a-lifetime savings opportunity as they go solar.
Connecticut’s Residential Solar Investment Program (RSIP) kicked off as a pilot residential solar promotion project with a conservative target of 30MW in 2012. The goal was to achieve the target by the year 2022. The program witnessed frenzied interest by homeowners and achieved its target in just 2 years, a good 8 years before the planned period.
Buoyed by its massive success, the state administration boosted the target to 300MW. Another target which, once again, was achieved before its set deadline of 2022. Subsequently, the target was reset to 382MW. By June 2021, the program has already added 364.786MW of solar power generation capacity to residential properties.
So, if the program meets its target of 382MW in installed residential solar capacity, it will be wrapped up. The time is ticking on this incredibly successful solar project, and homeowners are racing against time to avail the program before it’s wrapped up permanently.
Why Should You Care About Residential Solar Investment Program (RSIP)?
Money, of course.
The objective of RSIP is to make the upfront capital investment into solar installations more affordable to residential customers. The program achieves that by giving approved solar installers a rebate on the price of their solar installation.
The rebate is determined based on the size of your solar system. The maximum rebate rate is $0.42 per watt of installed solar power generation capacity. Depending on your system design, your contractor can get thousands of dollars in rebates, which are ultimately transferred to you.
Eligibility to Qualify for RSIP
All owner-occupied residential properties with 1-4 family members located in Eversource and UI’s service areas are automatically eligible for RSIP incentives.
There’s one additional preparation you have to make before you sign up for the program. Your house must be energy efficient to qualify for the program.
However, please bear in mind that the incentive is transferred to your approved solar installer and not you. So, make sure that your solar installer is an approved business, which you can check from the list here.
To learn more about RSIP and sign up for it quickly before it’s permanently discontinued, get in touch with us.