|Incentive Type:||State Loan Program|
|Eligible Efficiency Technologies:||CHP/Cogeneration, Yes; specific technologies not identified, Photovoltaics, Wind, Fuel Cells, CHP/Cogeneration, Fuel Cells using Renewable Fuels|
|Terms:||Fixed interest rate, not greater than prime rate (actual rate will be determined at time of application)|
Long-term financing is available to retail end-use customers for the installation of customer-side distributed resources. Customer-side distributed resources are defined by Conn. Gen. Stat. § 16-1 as "(A) the generation of electricity from a unit with a rating of not more than sixty-five megawatts on the premises of a retail end user within the transmission and distribution system including, but not limited to, fuel cells, photovoltaic systems or small wind turbines, or (B) a reduction in the demand for electricity on the premises of a retail end user in the distribution system through methods of conservation and load management, including, but not limited to, peak reduction systems and demand response systems." This program, administered by Banc of America Leasing & Capital for the Connecticut Department of Public Utility Control (DPUC), took effect in March 2006.
The maximum total amount of financing for projects under this program is $150 million. Capital costs and project-development costs are eligible. Interest rates are fixed and will be determined at the time the application is approved by Banc of America. Loans will be collateralized by way of equipment, or other collateral or credit enhancements required by Banc of America.
The following conditions apply:
To apply for financing, interested companies should work with their electric distribution company to determine project qualification and contact Lisa K. Tames with Banc of America (646) 855-4415.