CT Green Bank - SHREC Information

About this proposal

Governor Malloy has announced a policy to expand investment in residential solar PV in Connecticut. His proposal will expand the Residential Solar Investment Program target to no less than 300 MW by 2022 through the creation of Solar Home Renewable Energy Credits (SHRECs) to support the Class I Renewable Portfolio Standard (RPS) policy.

Potential impact of SHREC

  • Increase private investment of over $1 billion in the deployment of no less than 300 MW of residential solar PV in Connecticut
  • Create a projected 6,342 direct, indirect, and induced jobs in Connecticut’s economy, improving in-state activity by approximately $537 million
  • Save all ratepayers approximately $68 million in Class I RPS compliance costs, and helps existing RPS policy grow in-state clean energy faster

Important information