Madison Energy commits $50 million for C&I solar in Connecticut

The offering follows a decision by the Connecticut Public Utilities Regulatory Authority to establish a new solar energy incentive program.

August 11, 2021 Tim Sylvia

Waterbury, Connecticut

Image: Wikipedia/Daniel Case

Madison Energy Investments, a platform that finances, owns, and operates distributed generation assets, through a joint venture with Clean Future Partners, has committed $50 million to develop solar energy projects for commercial, industrial, and government customers in Connecticut.

The offering follows a decision by the Connecticut Public Utilities Regulatory Authority to establish a new solar energy incentive program. Madison Energy Investments has not yet made clear how many projects, or how much capacity could result from its offering.

Of interest will be the inclusion of energy storage. Earlier this summer, the state launched an incentive program for residential and business customers to buy and install energy storage systems as part of an Equitable Modern Grid initiative. The initiative calls on the state to install 1,000 MW of energy storage by the end of 2030, and includes proposed incentives ranging from $225 to $280 per kWh for up to 50 MW of energy storage for commercial and industrial installations through 2024.

Clean Future Partners is a joint venture between eDGe Renewable Partners and Advanced Energy Efficiencies.

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