Since the US federal government is still stalling and bickering instead of renewing the Investment Tax Credits for solar and residential solar subsidies are still in the proposal stage, states (such as New Jersey and Florida) have become the saving grace for many solar companies’ US hopes. And now Connecticut has upped the ante by launching a subsidized residential solar leasing program.
Governor M. Jodi Rell today announced a program to help low- and moderate-income residents cut their electricity expenses and build on the state’s commitment to renewable energy. The Connecticut Solar Lease Program, the first of its kind in the nation, is a new initiative designed to eliminate the high initial costs associated with the purchase and installation of residential solar photovoltaic systems. Through the Connecticut Clean Energy Fund (CCEF), a combination of rebates and tax credits can be used to lower the cost of leasing solar systems, helping more residents obtain clean, renewable solar energy.
While First Solar (FSLR) has not made a play at the residential market yet, the more incentive there is to do so, the better. For now, this type of legislation more directly benefits a pure residential-focused solar play such as Akeena Solar (AKNS).
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