The Public Utilities Regulatory Authority (PURA) has updated its Energy Storage Solutions program to increase accessibility and adoption by Connecticut residential customers.
The program provides incentives for the installation of battery storage. PURA stated the program will now provide residents with up to $16,000 in upfront incentives, an increase from the previous maximum incentive of $7,500. For customers that qualify as low-income, the upfront incentive increased to $600 from $400 per kWh. For customers that reside in an underserved community, the upfront incentive increased to $450 from $300 per kWh.
“Combined with the existing Federal Investment Tax Credit program, which provides 30% tax credits on the costs of installing solar and battery storage systems, the opportunity for Connecticut residents to become more resilient in the face of climate change has never been greater,” said PURA in a press statement. “Additionally, through the Inflation Reduction Act, a bonus energy investment credit is available for solar installations in low-income (10 to 20% additional tax credit value) and energy communities (10% additional tax credit value) for third party owned systems (i.e., leases and power purchase agreements)– delivering more savings depending on the customer’s income and location.”
