L-REC & Z-REC
A few important notes about funding:
Many of these programs require pre-approval before any work is started or you could lose your opportunity for funding.
Here are some preliminary details:
As part of Public Act 11-80 signed into law by Gov. Malloy on July 1, 2011, the state of Connecticut directed CL&P and The United Illuminating Company (UI) to launch a 22-year program to promote, fund and expand “behind the meter” renewable generation. “Behind the meter” refers to projects that are located behind the utility’s customer revenue meter.
This LREC/ZREC program is a bidding process for projects to compete to obtain a 15-year revenue stream from the sale of RECs(Renewable Generation Credit) to the electric utilities.
What this means is that the Utility companies will pay you for your renewable energy that is above and beyond what you need for your building. The utility companies sell the renewable energy to other customers.
What Types of Projects Can Qualify for the LREC/ZREC Program?
The REC can be either zero emissions (ZREC) if it originates from a solar, wind, small hydro or other zero emissions generating source, or low emissions (LREC) if it meets certain measured emissions standards. Fuel cells are a good example of an LREC.
- Must be located behind contracting utility revenue meter and have a dedicated REC meter
- Must not have received funding/grants from the Connecticut Green Bank, or its predecessors CEFIA or CCEF (other than low cost financing)
- Must have zero or low emissions
- Must be eligible to qualify as a Class I Renewable Project
15 year standard contract
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