Connecticut’s Future is Brighter with Solar Tax Incentives
Despite its small size, Connecticut is ready to make big strides in solar. Thanks to its rebate program and other state incentives, Connecticut continues to pave the way for more and more of its millions of homeowners to go solar. Not only can we help you make sense of the most important ones—we can even help you funnel all those incentives into a low kWh rate so you can save without having to lift a finger.
Residential Solar Investment Program
Thanks to CT Green Bank, if you buy a solar system for your home, you could qualify for the Homeowner Performance-based Incentive, or HOPB. You If you buy a solar system that generates up to 10kW, you could get a rebate of $0.54 per watt. For systems that generate more than 10kW, you could receive a rebate of $0.40 per watt.1
Sales and Property Tax Exemptions
If you purchase a home solar system in Connecticut, you’ll also be exempt from the sales tax.2 That’s a pretty big deal, considering buying your solar system outright comes with a hefty price tag. You’ll also be exempt from paying additional property taxes, so that the value added to your home when you go solar is subtracted from the assessed value of your property.3
CT Federal Investment Tax Credit
On top of all Connecticut’s solar tax credits, you’d also be eligible for the Federal Solar Tax Credit, or ITC, if you buy your own solar system outright. The tax credit amounts to 30% of the cost of purchasing your solar system, but only after deducting the value of your state rebates. However, ITC credits will begin stepping down from 30% at the end of 2019. The tax credit for systems in service after 12/31/19 will drop to 26%. After 12/31/20, it’ll drop even further to 22%.4 That’s why the time to go solar is now. But not to worry—we can help you maximize on all the solar savings available to you.
Going Solar in Connecticut Saves you Money
There’s lots of great solar savings to be found in Connecticut, but many of them are only available if you purchase your solar system. When you buy, it can take years for you to see a return on your investment, especially when you factor in the costs of maintenance and repairs. That’s why Sunrun offers BrightSave™, a revolutionary solar lease that passes the value of incentives over to you for as little as $0 down and a low kWh rate, plus free 24/7 system monitoring and maintenance. See why other customers have chosen to go solar with Sunrun. Want to see how much you could save? Get your free quote today.