Solect Energy Announces Expansion to Connecticut

Published November 30, 2016

Solect Energy Announces Expansion to Connecticut

DATE PUBLISHED: November 30, 2016
Category: News, News No Image, Press

Massachusetts solar company hires Kent McCord to lead company’s expansion into The Constitution State

HOPKINTON, MA – November 30, 2016 – Solect Energy, the leading full-service commercial-scale solar company in Massachusetts, announced today that the company is expanding its business into the state of Connecticut. The company recently expanded its operations and maintenance services, and will now pursue new projects—in addition to those in Massachusetts and Rhode Island—as a licensed Connecticut solar provider.

“We are excited to take on this new venture and pursue the  opportunities that lay ahead for solar energy in Connecticut,” said Craig Huntley, Chief Development Officer and Co-Founder of Solect Energy. “Connecticut has seen tremendous growth in solar energy in the past four years, and is expected to continue that growth over the next several years and beyond. We are proud to play a part in the solar efforts of Connecticut and help the state’s businesses, municipalities and nonprofit organizations reduce energy costs through solar energy.”

At the forefront of Solect’s expansion into Connecticut will be Kent McCord, recently hired as Director of Business Development at Solect Energy. Based in Granby, McCord has 15 years of experience in the renewable and alternative energy market. Prior to joining the Solect team, McCord was Director of Sales and Marketing at Doosan Fuel Cell, a leading manufacturer of fuel cell combined-heat-and-power (CHP) systems in South Windsor, CT. Kent’s project development expertise includes all types of CHP solutions, waste-heat-to-electricity systems, and commercial solar solutions.

“I am thrilled to serve the Connecticut area as Director of Business Development for Solect Energy,” said McCord. “Connecticut has among the highest electricity costs in the country, and solar is a great way for building owners to reduce utility costs while making their own renewable energy.  With a strong Renewable Energy Credit (REC) program and attractive financing available from the CT Green Bank, commercial rooftop solar systems are a smart investment in our state.”

Connecticut has installed 265 megawatts (MW) of solar energy, ranking it 17th in the country for installed solar capacity—and this momentum is only projected to continue. The state is committed to a goal of 20% renewable energy by 2020, and is expected to install an additional 900 MW over the next five years.

The state’s Zero Emission Renewable Energy Credit (ZREC) program has been the prime driver of the commercial solar market in Connecticut, providing a fifteen-year revenue stream for owners of solar energy systems, in addition to the value of reduced utility bills.  The CT Green Bank also has numerous innovative financing solutions based on the successful Commercial Property Assessed Clean Energy (C-PACE) program. The C-PACE program helps businesses and municipalities access affordable financing for renewable energy systems. It offers no upfront costs to upgrade your building, 20 year funding, no payoff upon sale, and the ability to share costs and benefits with any tenants you may have.  The program has significantly helped commercial properties decrease their energy costs, making going solar in Connecticut all the more attractive.

As Massachusetts ranked sixth for installed solar capacity last year with 1,199 MW installed, it is one of the country’s leaders in solar energy. The state was also ranked second for number of solar jobs with 15,095—second to California. With its C-PACE program and upward solar trend, Connecticut is on track to benefit in similar ways, both on a state level through enhanced employment rates and economic growth, and at the individual business level through reduced operating costs and energy price stability.