Microgrid Financing
Financing is available for municipalities seeking to make their critical facilities more resilient with a microgrid. Recipients of Connecticut Microgrid Program Round 1 grants and prospective applicants to Rounds 2 and 3 are encouraged to contact Connecticut Green Bank to find out what financing options are best for their project.
The Clean Energy Finance and Investment Authority (CEFIA) offers financing options to support projects involved in the Connecticut Microgrid Program.
Connecticut Green Bank is partnering with the Connecticut Department of Energy and Environmental Protection (DEEP) to assist municipalities and developers with structuring successful applications and creating financing plans for their project.
Assistance with obtaining financing is available for the approved projects, which are designed to support reliable energy to critical facilities during times of electricity grid outages. A project must have received, or be in the process of applying for, a Connecticut Microgrid Program grant.
The Connecticut Microgrid Program is offering $45 million over three rounds (an estimated $15 million per round – with an upper limit to each grant of $3 million) to fund the design, engineering, wiring and interconnection costs for technically feasible microgrids that best address Connecticut’s energy security, reliability and clean energy goals.
DEEP Round 2 RFP:
The Connecticut Department of Energy and Environmental Protection released a Request for Proposals (RFP) for Round 2 of the Connecticut Microgrid Program on March 6, 2014. All interested parties are invited to review the RFP and the grant contract template that each successful applicant will execute subsequent to announcement of the grant awardees.
To view the Request for Proposals click here.
Completed applications are due to DEEP no later than 4:00 P.M. on August 6, 2014.
All Connecticut Microgrid Program information is available on DEEP's microgrid website.
View our Financing Webinar for Municipalities and Project Developers
A summary of financing options available for microgrid projects is available here.
Click here for Frequently Asked Questions (FAQs) related to microgrid project financing. This information was compiled for preliminary guidance purposes only. Each interested applicant is encouraged to contact Connecticut Green Bank for project-specific information.
Applicants are encouraged to review existing Connecticut Green Bank financing programs, including:
Connecticut Green Bank has released a Request for Qualifications (RFQ) to identify capital providers interested in providing financing for microgrids. To review the RFQ, please click here.
View our project financing webinar for interested capital providers
Connecticut Green Bank is pleased to congratulate the following capital providers we have identified through an application and screening process. Parties interested in having their microgrid project referred out to this group should contact Genevieve.Sherman@ctcleanenergy.com, Assistant Director, Commercial and Industrial Programs.
| Advanced Energy Capital | Bank of America | Bonstonia Group |
| Distributed Sun | Hannon Armstrong |
For questions on becoming a qualified capital provider, please contact Joe Buonannata, Associate of Clean Energy Finance at CEFIA at joe.buonannata@ctcleanenergy.com.
Steps to Take Smart Energy Action
Step 1 -
Before installing your solar PV system, it's important to make your home as energy efficient as possible. Schedule an energy efficiency assessment for your home through the Home Energy Solutions program. Alternatively, you can work with an independent contractor certified by the Building Performance Institute, Inc., a certified energy manager, a certified energy auditor or a professional engineer. Your assessment will identify cost-effective ways to save energy.
Step 2 -
Find an Eligible Contractor. The contractor will review your project with you, provide information about solar systems and assist you with your incentives application. Connecticut Green Bank will pay the incentive directly to the Eligible Contractor, who passes the savings on to you by reducing the total system cost. As with any significant purchase, shop around when considering purchasing a solar system. Gather as much information as possible, check contractor references and obtain multiple quotes.
Need financing? See the section below for more information.
Step 3 -
Install your system! Connecticut Green Bank will pay the incentive directly to the installer Eligible Contractor, who passes the savings on to you by reducing the total system cost.
