SB1: An act concerning Connecticut’s energy future. A bright future for CT!

With the vote from the state Senate being 36-0, all Democrats and Republicans agreed, SB1, supported by Governor Malloy, was finally passed last Tuesday, June 7, 2011. The bill will become effective on July 1, 2011. The general statutes of SB1 are amended to establish policies, programs and procedures to reduce electricity costs, promote renewable energy, and create financing mechanisms for energy improvements that Connecticut has been in need of.

From 2008 to 2010 Connecticut fell from 8th to 18th in the nation for solar power installations. Kind of pathetic considering that at its peak Connecticut was in the top three! Luckily, its been realized that action must be taken to change this! The solar provisions made in this bill are to help Connecticut move back towards renewable energy sources. Connecticut is losing in the race against other states in providing clean energy and losing business to its surrounding states, such as New Jersey and Massachusetts.

With SB1 being passed, there is now a greater hope for expanding Connecticut’s future in renewable energy. For Connecticut ratepayers SB1 means reduced rates and decreases in costs, and the creation of what is called a “Green Bank”. The new funding model of the “Green Bank” allows for leveraging the ratepayer fees the fund already gets, private capital and other money. The legislation also dramatically expands the fund's purview beyond the solar rebate and other limited clean energy projects to include things like electric and natural gas infrastructure projects. Among the provisions is the commercial solar program to become part of a renewable energy credit system that includes other types of zero-emission energy sources and utilities are required to buy energy from them through long-term contracts. Municipalities may establish a Property Assessed Clean Energy, or PACE, program to do energy efficiency and renewable energy work that is repaid through an assessment on property taxes. This also authorizes municipalities to do energy retrofits through performance contracts that use the money from energy savings to pay for the work. The provisions set forth for this bill are in the best interest for the consumer and for the government in a desperately needed movement towards renewable energy sources.