Connecticut is considered one of the most solar-friendly states in the entire country. They established great solar programs and solar energy incentives to encourage residents to make the transition.
One of the many incentive programs includes the Residential Solar Investment Program (RSIP). Here you can learn more about RSIP, its potential for savings, and the requirements needed to qualify.
What is Connecticut’s Residential Solar Investment Program (RSIP)?
Incorporating solar energy systems contributes to generating clean, renewable energy from the sun shining on your home. This program can also be a worthy investment that can significantly reduce your utility costs for the long-term. To encourage more people to go solar, Connecticut implemented RSIP. The Connecticut Green Bank established the Residential Solar Investment Program (RSIP) in 2012.
This initiative was initially created to reach 30 megawatts of residential solar photovoltaics (PV) by 2022. The program was such a massive success that they met the goal just two years after unveiling the plan in June 2014. So, Public Act 15-194 expanded the program to encourage more Connecticut residents to utilize solar energy. This act set a higher goal of 300 megawatts with an expectation to attain it by 2022, or earlier. The program offers monetary subsidies to approved installers in the form of rebates. These rebates help them reduce upfront expenses from the installation of solar systems.
How Much Can I Save with RSIP?
The Nutmeg State has an abundance of sunlight to further benefit from fully embracing solar renewable energy. Connecticut receives 4.5 hours of direct sunlight daily. It is slightly more than its neighboring states, such as New York. Therefore, it makes financial sense to maximize their resources and embrace this form of energy generation. RSIP further promotes this initiative by offering rebates to Connecticut homeowners. The discounts for residents start at $0.42/watt. For a 10 kW system the homeowner would get back $4,200.
PV panel selection, inverter efficiency, system orientation, tilt, and shading on the site can determine your system’s performance.
On average, the expenses for solar system installations can reach up to $16,000 ($3.22/W). This aspect might be a dealbreaker to some, but enrolling in RSIP programs can immensely reduce these costs. If you invest in a 5kW solar system, you can receive $4,260 right off the bat. The RSIP incentive offers a maximum of $0.426 per watt to help you with your investment return. Additionally, you can use these incentives to cover electricity costs. Despite going solar, you will still partially rely on your electricity grid. Going solar doesn’t only reduce your overall electricity costs; you can even use excess rebates to cover these bills.
How Do I Qualify for RSIP?
There are a few things to consider before participating in the program. First, make sure that your home is energy efficient by taking an assessment. You can determine energy efficiency through the Home Energy Solutions Program. Also, the residential program for RSIP is limited to owner-occupied residences with 1 to 4 families.
You can be qualified if you’re either a customer of Eversource or United Illuminating. Second, independent contractors must submit a request for qualifications to prepare for the pre-approval process. Installers shall do the paperwork on behalf of the residents to acquire rebates. There is a list containing the certified installers and contractors available on energize CT. It is essential to know that RSIP is performed on a rolling basis. The program has no specific application deadlines.