Connecticut Green Bank: What is It?
Formerly known as the Clean Energy Finance and Investment Authority (CEFIA), Connecticut Green Bank is the nation’s first full-scale program offering innovative low-cost financing to homeowners, companies and municipalities seeking to improve their property by making renewable energy system upgrades.
Cutting Costs for Commercial Properties Who Use Clean Energy
The Connecticut Green Bank offers low-cost loans to homeowners, companies and towns participating in the Commercial Property Assessed Clean Energy Program (C-PACE), for renewable energy improvements to their properties. The Green Bank may also encourage property owners to seek loans from reputable third-party lenders who can make loans directly.
Making Energy More Affordable and Reliable
Connecticut residents now have access to new sources of affordable and reliable electricity. New guidelines allow the state to negotiate long-term contracts with energy providers that meet our energy goals, so that these providers will. use more renewable resources, improve energy system reliability, lower costs and reduce greenhouse gases.
New Incentives for Residents to Use Renewable Energy
By expanding the Connecticut Green Bank, we’re making an investment in the future of Connecticut’s renewable energy market. The Green Bank now offers up to 5% in incentives for solar energy system components that are manufactured or assembled in the state. The bank’s residential solar energy program also offers renewable energy credits and funding assistance and training for officials to develop programs to promote solar energy.
Encouraging and Supporting Farmers in Restoring Farmland
To increase Connecticut’s capacity for food production, the State is increasing the amount of reimbursement available to farmers who comply with a farm resources management plan or develop a plan to restore farmland that has gone out of production.
Prohibiting the Import and Sale of Cosmetics that Contain Microbeads
The tiny plastic beads found in a wide range of cosmetics are becoming a huge problem for the state’s waterways and wildlife. To combat this growing issue we have banned the use of microbeads and are encouraging industries to focus on biodegradable alternatives.
Long Island Sound Blue Plan and Resource and Use Inventory
The Long Island Sound is one of our most precious state resources. To protect the Sound, the “Blue Plan” will make an inventory of its uses and areas for conservation. With this plan in place the state will be able to more clearly and effectively manage our offshore waters using concrete data to coordinate state agencies, academic institutions, and other stakeholders. Our neighboring coastal states have been very successful with similar plans.