A low interest loan program is available for customer-side distributed resource projects of 50 kW or greater. The interest rate is subsidized so it will be 1% below the customer’s applicable rate or no more than the prime rate. The legislation for this customer-side distributed generation program is not only for installation of large customer-owned electric generation equipment, but also for conservation projects that reduce system demand. These particular energy conservation projects must meet all 3 of the following criteria to be qualified for this program:
- Must be saving electricity (not gas or oil savings measures);
- Town/municipality must be located in CL&P or UI territory; and
- Also, if projects received any monies/grants from CT Clean Energy Fund or Conservation Load Management Funds – these monies must be subtracted from the amount subsidized under this loan program.
For more information about the loan program and to submit your application, contact our financing representative at Banc of America: