The Clean Energy Fund from Connecticut has now begun offering instant rebates to every home owner, organization or business that will purchase hot water heaters which are powered by solar energy but only as long as they are working with a contractor whom is approved. Under this brand new federal program, businesses and home owners will have to gather estimates of the cost from among a list that contains all the eligible contractors that will help in evaluating the amount of energy that is generated from the sun at the business or home where the system is installed during the colder months.

According to this Fund’s website, the rebates on electricity generated could go up to $4,800 in the case of larger houses. The more the energy that is absorbed from the sun, larger the amount of rebate you can get. With the help of solar path finders, any contractor will be able to measure the amount of shady areas that are part of a house and this information is then entered into a computer which then determines the amount of energy you can expect the solar powered hot water heater to get from sunlight. The federal government is also offering tax credits of 30% on the money that you spend purchasing the solar water heaters and this amount is allowed to go all the way up to $1,500 for any improvements that you need to make during the years 2009 & 2010.

The website also mentions that by using solar energy, we will be able to reduce our costs drastically. The cost of heating water is likely to come down by 50-80% since water heaters are among those appliances in a household that uses the most electricity. Keeping this in mind, the Clean Energy Fund has also said that it is important to note that this system will most likely repay you the money you invested in it in six to ten years if you add the incentives and the energy saving that you will make by using it.

You can avail incentives on new buildings as well as on existing ones as well as for retrofits. Connecticut has been given $38 million out of the deferal American Recovery & Reinvestment Act, that is supposed to help stimulate development of many green jobs as well as renewable energy. Out of this $4 million has been devoted to the solar heating program.

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