DPUC Gives Incentives to CT Companies to Make Their Own Power
April 5, Hartford – Late last month the CT Department of Public Utility Control (DPUC) announced a new program that will offer grants and loans to companies that install generators and create their own power. The DPUC hopes that the program will add badly needed capacity to Connecticut’s power grid. By adding more “distributed generation” it will be less expensive to meet periodic peaks in power demand and take the burden off the large centralized power plants.
The program, funded by ratepayers will also help to reduce the $500 million bill we paid last year in federally mandated “congestion charges,” based on CT’s shortfall in capacity. The program is part of the CT Energy Independence Act passed during last year’s session of the General Assembly. The program includes:
• Grants of $200 per kilowatt, or $20,000 for a 100-Kilowatt generator, for systems designed for emergency backup generation.
• Grants of $450 per kilowatt, or $450,000 for a 1-megawatt generator, for base-load generators that run continually.
• An additional $50 per kilowatt during the next two years for generators installed in Fairfield County, where power generating capacity lags demand.
• Low-interest loans offered by Bank of America to finance projects of 50 kilowatts or greater, up to $150 million in financing. Grants are available of up to 65 megawatts.
The program is aimed at helping all commercial and industrial users such as factories, hospitals, office buildings, malls, hotels and condo complexes. To find out more about the incentive programs and how to apply, click here.
Source: The Hartford Courant.