A new Connecticut law (H.B. 6838) has expanded the state’s Residential Solar Investment Program, allowing the program to support up to 300 MW of new residential PV through the end of 2022. Previously, the program goal was 30 MW of new PV. PURA is authorized to provide an additional incentive of up to 5% more than the base incentive for projects that utilize components made in Connecticut, and another 5% for projects that utilize components made or assembled in a distressed municipality in Connecticut.
This new law also establishes a new class of RECs — solar home renewable energy credits (SHRECs) — that will be owned by the Connecticut Green Bank. Utilities are required to purchase SHRECs from the Green Bank under a master purchase agreement of up to 15 years, and may recover their costs of purchasing SHRECs through a reconciling component of their rates, as determined by PURA. The Green Bank will set the purchase price of SHRECs. Residential PV systems up to 12 kW that are installed on single-family home rooftops qualify to generate SHRECs, but they may not also generate ZRECs.