Program Highlight: Solar Marketplace Assistance Program
Established by the Connecticut General Assembly in July 2011, the Connecticut Green Bank supports the Governor’s and Legislature’s energy strategy to achieve cleaner, less expensive, and more reliable sources of energy while creating jobs and supporting local economic development.
Emily Basham is an Associate Director on the Financing Programs team at the Connecticut Green Bank! She manages the Solar Marketplace Assistance Program that provides no-cost technical assistance and project financing to state, municipal, and affordable multifamily partners. Emily is NABCEP Associate certified and completed Yale‘s Clean Energy Finance and Deployment Certificate program. Emily holds a B.A. in Environmental Science and Political Science from the University of Michigan.
Emily lives in New Haven, and loves running, picnicking, or lounging in the City’s parks.
To help owners and residents of affordable multifamily housing in Connecticut have easier access to the benefits of solar energy and battery storage, the Connecticut Green Bank announced in January 2024 that their successful Solar Marketplace Assistance Program (Solar MAP) is now available to affordable properties with five or more units. Through Solar MAP, no-cost technical assistance is provided to affordable multifamily housing agencies, property managers, and owners to simplify and navigate the process of going solar (including battery storage) from start to finish. The program helps identify project sites, conduct feasibility, and design solar installations. The Green Bank also provides the financing, incentives, and contractors to take projects from concept to completion.
1. Tell me about what problem this program/service addresses.
There are a lot of steps and expertise needed to complete a solar project. Many property owners do not have the capacity to manage an ancillary project like solar in addition to managing their property. The Green Bank offers the expertise and comprehensive support through a turnkey program, Solar MAP, to simplify the solar process. Affordable housing sites are typically debt-constrained properties, requiring an off-balance sheet approach to solar adoption. Solar MAP offers a lease arrangement to avoid complicated financing structures and easily share the benefits with property owners and tenants. This program aims to be a trusted partner in the solar process. It is our goal to make going solar as simple and successful as possible so that affordable multifamily housing owners can achieve savings from solar.
2. What attracted you to start this program/initiative?
Historically, it has been challenging to develop attractive projects on multifamily properties but recent legislative and regulatory changes removed those barriers and created an opportunity for us to expand out program. Previously, affordable multifamily properties were defined as commercial properties, which compete for a capped incentive in the state’s solar incentive program. Now they are treated as residential and can access the Residential Renewable Energy Solutions program, which has no cap and will often provide benefits greater than the commercial incentive. The incentive program also allows the tenants to share in the savings from the solar system. With these changes, affordable multifamily projects can be designed to include the tenants' usage, offer a richer and more accessible incentive, and enable attractive projects to come together where they couldn’t before.
Although there are conducive incentives available, property owners still need the education and support to find opportunities and bring them to fruition. The Green Bank’s Solar MAP program has been providing that support and successfully serving our state agency and municipal partners since the program launched in 2020. We are thrilled to expand the program and our resources to support affordable multifamily properties and extend energy savings to tenants who need it most.
3. How does this initiative help the city of Hartford?
There are qualifying multifamily affordable housing properties in Hartford that are eligible to take advantage of the new policy opportunities. Through Solar MAP, our team can help multifamily property owners, managers, and housing authorities determine what sites are feasible and eligible for a solar installation. Our financing product, a solar lease, offers lease payments that provide passive income to owners and a financial benefit shared with the tenants. The Green Bank has begun evaluating eligible sites in the City of Hartford for solar potential and hope to have additional conversations to maximize solar adoption in the City.
4. Is there an achievement or contribution that you are most proud of? Why?
We are very proud to have closed 22 MW of solar projects in the program with our state and municipal partners and have another 4 MW under development, including affordable multifamily partners. These solar agreements are providing significant energy savings and reducing the operating costs at the project locations, which helps our state and local governments run more efficiently. By adopting clean energy, we are helping our state transition our energy profile to renewables and meet our state climate goals. We are grateful to be a trusted partner and excited to participate in greening our state.
5. What do you think other people should know about this organization/program/initiative?
We are hosting an informational webinar to share more about the new opportunities for affordable multifamily housing and how our program works. We would invite anyone interested to join us June 6th at 9am. To register, visit https://www.ctgreenbank.com/events/solar-map-for-affordable-multifamily-housing/
6. Is there anything else you would like to share with me?
Building owners and tenants can also bundle their solar PV system with the installation of a battery energy storage system. Solar and storage offers the benefits of a more resilient community and back-up energy during a power outage.