Local CT Chambers Spring Update: Economic Development Opportunities in Clean Energy

Connecticut local chambers and member businesses are increasingly leading the way in seizing the economic opportunities in clean energy. See highlights below about new job growth, member business programs, proposed clean energy financing opportunities and more.

Solar Job Growth in CT on the Rise. Connecticut is “one of the fastest growing of the smaller states” in the solar industry, according to a new report. More.

Fuel Cell Industry Continues to Generate Jobs and Investment. The state is well poised to continue to be a national and world leader in fuel cell creation, according to the Connecticut Hydrogen Fuel Cell Coalition. Connecticut boasts more than 600 companies that contribute to the supply chain and generated almost $40 million in state revenue in 2015.  Fuel cells provide back up power and Connecticut is set to be home to the largest fuel cell power park in the world. More.

Commissioner Klee Tells Chambers about Plan to Maximize Growth in Clean Energy. All signs point to monumental growth in local economic development and jobs in Connecticut’s clean energy sector, Commissioner Klee told Connecticut chamber leaders. More.

The Connecticut Legislature is focused on two clean energy issues of interest to local chambers:

  • Increasing clean energy financing: Local businesses have received nearly $1 billion in financing for cost-saving energy improvements through Connecticut’s Commercial Property Assessed Clean Energy (CPACE) program. In 2017, the legislature is considering expanding the program. More.
  • Boosting the clean energy standard: A clear commitment to clean energy helps attract investments, grow jobs, and create a more reliable energy supply. One policy many states use to signal that commitment to potential investors is the Renewable Portfolio Standard (RPS), which requires utilities to obtain a minimum percentage of energy from renewables. The legislature is currently considering extending and increasing Connecticut’s RPS.

New Comprehensive Energy Strategy Expected in April: In an effort to help Connecticut plan for future energy needs and guide the state toward a cleaner, cheaper, more reliable energy future, the State is expected to issue an update to its Comprehensive Energy Strategy in April 2017.