After passing both the state house and senate earlier this year, Connecticut’s energy bill 493 was vetoed by outgoing Governor Jodi Rell. The SREC legislation included in the bill was put on hold at the time. After a close election last week, Connecticut Democrat Dan Malloy will likely bring the energy bill back, with specific support for the SREC legislation. Malloy’s support for the bill was stated and evident during his campaign because it created new jobs and moved towards clean energy.
Malloy also stated on his website that he is committed to “expand[ing] opportunities to finance and invest in energy efficiency and renewable energy”. When asked about the current law that attempts to make 20% of Connecticut’s energy come from green sources, Malloy wrote, “Achieving this “20 by 20″ renewable energy goal would go a long way to reducing costs while also improving our environment and Connecticut’s quality of life”.
This is a very positive sign for the Connecticut solar industry, one that has suffered the highs and lows of inconsistent grant and rebate funding from the state government. The addition of an SREC market would provide the type of stability that solar companies have thrived on in Massachusetts, New Jersey and other states that have moved towards the market-based incentive program.