At Evergreen Energy, we provide renewable energy solutions to businesses and homeowners. We will show you how to operate more efficiently and reduce energy consumption. We install renewable energy equipment to generate electricity, supplement or take the place of heating, air conditioning and hot water appliances.

Take advantage of 30% Federal tax credits that apply to most of our services.  Solar electric, solar thermal, wind turbines and geothermal systems all qualify.  Sales tax exemptions, property tax exemptions, utility rebates, and state sponsered rebates are also available for most installations.  Contact us for details.

Considering a Solar PV Lease, we suggest a purchase for several reasons. You are much better off owning your solar array.  When you purchase a system yourself, you can claim the 30% federal tax credit.  If you have limited tax liability, this can be carried forward. Additionally, you can claim a rebate from the Clean Energy Finance and Investment Authority.  Here is a basic example for comparison:

 
To purchase a 7 kW solar PV system (assuming a cost of $3.90/Watt)
Cost would be $27,300. (prior to incentives)
Estimated Clean Energy Finance and Investment Authority (CEFIA) Rebate = $7,342.00
Estimated Federal Tax Credit = $5,987.40
Estimated final cost to Owner = $13,970.60
 
To Lease a 7 kW solar PV system (20 year term, assuming $3.90/Watt)
CEFIA Non Escalating Lease = $20,647.20
CEFIA Escalating Lease (2.99% per year*) = $22,358.09
After the lease, you still have to pay to have the system removed or purchase the system at the fair market value (i.e., $3,000 to $5,000).
 
*Many companies that lease systems, like SolarCity, have greater annual escalators built in to their leases, up to 4%. Cost would be even more in this case: $25,316.58.
 
The difference between the cost of owning vs. leasing is substantial and the annual escalators can make the difference even more dramatic.
 
The only "advantage” to a lease is a 20 year warranty but the inverter is the only piece of equipment likely to go bad during that period.  An inverter for this system can be replaced for
about $4,000; for a smaller array the inverter could cost as little as $2000. Even when you add in this additional expense, purchasing is still the better deal. So, how do you come up with the money to purchase the system outright?  If you have mutual funds or other savings, a solar array will get you a much better return on investment. On average, the ROI for solar is greater than 10%. If you take out a home equity line of credit, you can get a low interest
loan and still save money compared to a lease program. At 2% interest, the purchase with a 15-year term will still cost less than a lease. If you decide to sell your home
before the end of the lease, your buyer may not be interested in assuming the lease on top of the mortgage.  If you own the system, the price of the array will be bundled into the mortgage
and will likely be more appealing to a potential buyer.


Latest News!

Financing is now available for Solar Photovoltaic, Solar Thermal and Geothermal Projects!  Smart-E loans up to $30,000 are available through several credit unions and banks with terms of 5 to 12-years and interest rates between 4.49 and 6.99%.  Please check out www.EnergizeCT.com/smarte for details.

The Clean Energy Finance and Investment Authority (formally the CT Clean Energy Fund) released a new rebate program for residential Solar Photovoltaic purchases in January 2014. Current rebates are a maximum of $1.25 per watt for the first 5 kW PTC and $0.75 per watt for the remainder, up to a maximum of 10 kW PTC or 100% of the owners prior 12-months of electricity usage, whichever is lower.  Please contact Evergreen as soon as possible if you are interested in a Solar PV System, Solar Thermal, Wind Turbine or a Geothermal system for your home or business.

Zero-Emission Renewable Energy Credits (ZRECs) are now available for all Class I renewable energy systems which are constructed without incentives from the Clean Energy Finance & Investment Authority.  The fee to be paid for ZRECs are based on the system size and will be determined by CL&P and UI on an annual basis.