Connecticut enjoys one of the fastest-growing solar markets among the smaller US states. One reason is because the Nutmeg State actually receives more sunshine than most of the solar farms in Germany, with an average of close to 4.5 hours of direct sunlight for every 10 square feet (approx. 1 square meter).
It may be a small state, but Connecticut is big on renewables and makes it easy for residents and businesses to go solar. The state has consistently ranked in the top 10 nationally for energy efficiency programs & policies since the early 2000s.
Over 10,000 homes in Connecticut added solar panels since 2012, with nearly 5,000 installations completed in 2014 alone. And, with the state’s recent launch of C-PACE, municipalities and commercial property owners are increasingly installing solar systems, as well.
The Solar Energy Industries Association (SEIA) reports that over 147 solar companies employ nearly 2000 people in Connecticut. The total installed capacity of solar energy in Connecticut is 265 MW, ranking it 17th in the US. The state’s 2015 installation of solar capacity ranks 14th nationally, growing 64% in 2015, with 91 MW installed for the year.
Investments in solar installations for 2015 represented a whopping 124% increase over 2014, pulling in $270 million, and 2016 is expected to see even greater growth.
When you install your solar system, 30% of your project expenses apply toward a credit to offset any taxes you owe that year. This federal tax credit is a major incentive to go solar, but it is being phased out by 2022.
Most people are eligible to claim this credit (you must owe federal taxes to be eligible).