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Incentives/Policies for Renewables & Efficiency

Printable Version
Low-Interest Loans for Customer-Side Distributed Resources   

Last DSIRE Review: 12/15/2014
Program Overview:
State: Connecticut
Incentive Type: State Loan Program
Eligible Efficiency Technologies: Lighting, HVAC and others
Eligible Renewable/Other Technologies: Photovoltaics, Wind, Fuel Cells, CHP/Cogeneration, Fuel Cells using Renewable Fuels
Applicable Sectors: Commercial, Industrial, Nonprofit, Schools, Local Government, State Government, Fed. Government, Agricultural, Institutional
Amount:$1,00,000 Minimum loan size
Terms:Fixed interest rate, 1% below the customer's applicable rate not greater than prime rate (actual rate will be determined at time of application), buydown available for 10 years, terms of loan varies
Web Site:
Authority 1:
Date Enacted:
Date Effective:
Conn. Gen. Stat. ยง 16-243j

Long-term financing is available to retail end-use customers for the installation of customer-side distributed resources. Customer-side distributed resources are defined by Conn. Gen. Stat. § 16-1 as "(A) the generation of electricity from a unit with a rating of not more than sixty-five megawatts on the premises of a retail end user within the transmission and distribution system including, but not limited to, fuel cells, photovoltaic systems or small wind turbines, or (B) a reduction in the demand for electricity on the premises of a retail end user in the distribution system through methods of conservation and load management, including, but not limited to, peak reduction systems and demand response systems." This program, administered by Banc of America Leasing & Capital for the Connecticut Public Utilties Regulatory Authority (PURA), took effect in March 2006. In addition to electric generation projects, other conservation projects that reduce system demand are also eligible for the program. 

The maximum total amount of financing for projects under this program is $150 million. Capital costs and project-development costs are eligible. Interest rates are fixed and will be determined at the time the application is approved by Banc of America. Loans will be collateralized by way of equipment, or other collateral or credit enhancements required by Banc of America.

The following conditions apply:

  • Financing is available for customer-side projects with a minimum capacity of 50 kilowatts (kW) or greater
  • The generator must have begun operation after January 1, 2006.
  • New or incremental capacity is eligible for financing. Existing capacity is not eligible.
  • Financing is available to the owner or owners of a qualified project.
  • Financing is available to customers of Connecticut Light and Power (CL&P) and United Illuminating (UI) for projects located in these utilities' service territories.
  • Financing is not available for emergency generation for hospitals, nursing homes or other facilities to the extent they are required to have emergency generation under state and federal law.
  • Gas air conditioning and gas chillers are not eligible for financing.
  • Financing is available for projects funded by the Connecticut Clean Energy Finance and Investment Authority (CEFIA, previously known as the Connecticut Clean Energy Fund), and CL&P’s and UI’s energy-conservation programs.
  • Power purchase agreements not eligible

To apply for financing, interested companies should work with their electric distribution company to determine project qualification and contact Lisa K. Tames with Banc of America at (646) 855-4415.

  Lisa Tames
Banc of America
One Bryant Park, NY
Phone: (646) 855-4415
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2014 - 2015 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.