Connecticut Energy Advisory Board - Renewable Energy Working Session. Connecticut Clean Energy Fund Perspective

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1 Connecticut Energy Advisory Board - Renewable Energy Working Session Connecticut Clean Energy Fund Perspective Paul R. Michaud Managing Counsel & Director of Regulatory Policy November 5, 2009

2 Road Map STATUS OF CCEF RENEWABLE ENERGY DEVELOPMENT PROGRAMS CCEF CONNECTICUT RENEWABLE ENERGY RESOURCE POTENTIAL STUDY

3 CCEF Mission The Connecticut Clean Energy Fund promotes, develops, and invests in clean energy sources for the benefit of Connecticut ratepayers. Three main goals to increase: Installed Renewable Energy Capacity Emerging Renewable Energy Technologies Renewable Energy Demand & Sustainability

4 Clean Energy Technologies Solar PV Biomass Landfill Gas Wind Hydro Fuel Cells Wave / Tidal

5 CCEF Funding Sources Historical funding from surcharge on UI and CL&P electric bill - ~$30M/year Some additional funding from sale of Renewable Energy Credits (RECs) and foundation grants New: Regional Greenhouse Gas Initiative (RGGI) ~$3M/first 3 quarterly auctions May be used for Class I Renewables only New: American Recovery and Reinvestment Act (ARRA) $20M May be used statewide (i.e., not just UI and CL&P) Funding directed by Governor s office to specific technologies

6 ARRA Breakdown for CCEF Programs $8M Fuel Cells - existing program $3M Solar PV to be divided among existing commercial & residential programs Backlog of commercial applications will likely exhaust funding $4M Solar Thermal new program to be developed for commercial & residential customers Launched in October $5M Geothermal Ground Source Heat Pumps new program to be developed for commercial & residential customers Likely to be launched in December Incentives may be combined with CEEF program

7 Installed Renewable Energy Capacity Programs that provide Connecticut ratepayers with access to a diverse supply of clean energy resources Feasibility Studies On-Site Distributed Generation Program Pre-Development Loan Program Project 150 Residential Solar Rebate Program Affordable Housing Initiative Residential Solar Lease Program

8 On-Site Renewable DG Program (OSDG)

9 OSDG Program - PV Projects (as of 9/30/2009) Over $69 M worth of incentives in CT for commercial projects since projects completed = 9.5 MW 40 projects underway = 4.0 MW Total = 13.5 MWAC Staples Killingly Distribution Center

10 OSDG Program Fuel Cell Projects (as of 09/30/2009) 9 projects completed = 2.9 MW 5 projects underway = 4.1 MW Total = 7 MW $21 M incentives; $40 M total cost Yale Peabody Museum

11 OSDG PROGRAM

12 OSDG PROGRAM

13 RESIDENTIAL SOLAR PV PROGRAMS (Rebate & Lease) Solar Hot Water Collectors Solar Photovoltaic Panels 16 kw

14 Residential Solar PV Rebate Program Solar Rebate Program (Residential PV only) 1 $1.6M (homeowner direct purchase) Federal: ~ ARRA State Energy Program (SEP) 2 $1.5M (homeowner direct purchase) Incentives same in both cases $1.75 for the first 5kW $1.25 for the next 5kW Capped at $15,000 The rebates, along with federal tax credits, reduce system cost by approximately 40-45% 1 Open only to CL&P and United Illuminating customers 2 Open to all Connecticut applicants

15 Residential Solar PV Rebate Program Direct purchase by homeowner Up to $15, rebate per household Up to and including 10 kilowatts on one- to four-family homes Rebate levels: Systems up to and including 5 kilowatts Performance-based rebate up to $1.75 per watt (PTC) for system and installation costs to a maximum of $8, Systems greater than 5 kilowatts and up to and including 10 kilowatts Performance-based rebate up to $1.75 per Watt (PTC) for system and installation costs on the first 5 kw PLUS a performance-based rebate up to $1.25 per watt for the next 5 kw. The rebates, along with federal tax credits, reduce system cost by approximately 40-45%

16 Residential Solar PV Rebate Program

17 Residential Solar Rebate Program

18 CT Residential Solar PV Lease Program First state sponsored residential solar leasing program in the United States. CCEF provides solar rebates as well as lease capital. No down payment is required. Low monthly payment, fixed for the entire 15 year period. Monthly payment for a $45,000 system averages $120/month. Major eligibility guidelines include: (1) the homeowners income may not exceed 200% of the median family income in their area and (2) the homeowner is a customer of CL&P or UI. The homeowner must also have good credit.

19 CT Residential Solar PV Lease Program 15-year lease with option to extend for another 5 years at lower monthly cost, or purchase system outright, or have it removed For homeowner customers of CL&P and UI who: Install qualifying Solar PV systems Reside in their 1 to 4 family owner-occupied homes Have a household income of 200% or less of their area s median income Meet the credit and debt to income qualifications of the program CT Solar Leasing, LLC owns the RECs and sets aside for each system owner a portion of REC sale proceeds to use for certain costs Check it out at:

20 CT Residential Solar PV Lease Program

21 Solar Thermal Program Federal: ARRA State Energy Program (SEP) $1.8M for residential projects $1.8M for commercial/industrial/institutional projects $0.4 for administration Incentives: Residential and for-profit CI&I -- $500 per MMBtu of October-March system output Not-for-profit -- $900 per MMBtu of October-March system output Maximum incentive limits: 1-2 person household - $2,400(capped) 3-4 person household - $3,600(capped) 5-6 person household - $4,800(capped) CI&I for-profit - $50,000 Not-for-profit and governmental - $82,500 Open to all Connecticut applicants

22 Solar Thermal Program - Project Eligibility Installation site must be in Connecticut Domestic hot water only (Federal rule no pools, CCEF rule no space heating ) Minimum: 50% Solar Fraction based on estimated usage Target: 70% Solar Fraction Maximum: 80% Solar Fraction (unless specifically designed for no excess heat production in summer) Roof must have 15+ years of life left, if roof-mounted All designs over 30 MMBtu/year must be stamped by P.E. (unless SRCC OG300 design)

23 Solar Thermal Program - Application Process Non-competitive (first come, first served) Information and application forms are on-line Process steps include: Application evaluation by staff Calculation of the incentive amount Approval of the incentive (staff or CCEF Board) Notification of incentive award Verification of successful installation Payment of incentive! See our website!!

24 Emerging Renewable Technology Programs Operational Demonstration Program provides funds for pre-commercial stage clean energy projects that rely on the innovative use or application of renewable energy generation technologies - $4.0 million allocated Result: 9 Demonstrations with comprising 412 kw; Fueled by hydrogen (5), natural gas (2), wood chips (1), and Water (1)

25 CT Clean Energy Communities Program 20% by 2010 Clean Energy Communities Developing the voluntary market for clean renewable energy CTCleanEnergyOptions Program: an add-on to electricity bill that pays for electricity production from cleaner sources such as wind and small, low-impact hydro power. Community Innovation Grants Community funding opportunities up to $4,000 Local clean energy awareness projects Learning for Clean Energy Innovation Professional development for 9 th grade science teachers High Performance Schools Program technical expertise and funding for green school construction projects

26 Results: CCEF s Impact Statewide 88% of all Connecticut towns have received CCEF funding through one of its programs 92 towns committed to the 20% by 2010 campaign 53 towns earned Communities designation 24,000+ residents signed up for

27 Renewable Energy Industry Development Solar training for 150 teachers /17 vocational high schools UConn Sustainable Eminent Faculty support Renewable Energy Workforce Training 11 innovative renewable demonstration projects

28 CCEF CT Renewable Energy Resource Potential Study Navigant Consulting, Inc. is a well-respected national consulting firm and global leader in renewable energy technology and strategy development. Three-Prong Study: Prong 1: What is the potential for renewable energy resources in the state? Prong 2: What are the costs and benefits of developing in-state renewable resources? Prong 3: What are the best program/financing model(s) for sustainable renewable energy development in the state?

29 Visit us online ctcleanenergy.com 200 Corporate Place, 3rd Floor Rocky Hill, CT (860)

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