CT Green Jobs: 11,814 and Growing

CT Renewable Energy Jobs by Technology:

Storage - 0.3%

Biomass - 0.3%

Hydro - 1%

Multiple - 1%

Hydrogen - 2%

Geothermal - 2%

Wind - 5%

Solar - 18%

Fuel Cell - 71%

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Learn about CT's Existing Companies that have flourished in our state.

Since 1998 Connecticut has been a leader in the
Green Movement.

Every year the Connecticut Energy Efficiency Fund and the Connecticut Clean Energy Fund invest millions of dollars in conservation and renewable generation. This stable base of funding has created a ripe environment for clean energy and technology companies to thrive. A recent study estimates Connecticut's Green Workforce to be nearly 12,000 employees. Continued investment and a pro-green regulatory environment will help these companies to keep growing in the state.

Key Factors:

State Investment

Connecticut has been investing in Green since 1998 with the establishment of the utility rate payer funded CT Energy Efficiency Fund and the CT Clean Energy Fund. Each year the energy efficiency fund pays out millions of dollars in incentives for residents and businesses to install energy efficient equipment. Through 2008 the program has reduced power consumption by 4.2 billion kilowatt hours.

The Connecticut Clean Energy Fund has paid out more than $100 million in incentives to residents and businesses to install on-site renewable generation such as solar panels and fuel cells. The Fund also supports Connecticut's goal of building 150 MW of clean energy power.

Existing Workforce

Because of Connecticut's consistent investment in clean technology there is a considerable green workforce already in the state. A 2009 independent study found 4,544 Connecticut jobs directly tied to energy efficiency and renewable energy. Combined with indirect jobs the total green collar workforce is 11,814 people and growing.

This year in Connecticut legislation was passed to increase green workforce training programs at the state's community colleges and universities.

Existing Industry

Connecticut is headquarters of the Fuel Cell industry. United Technologies Corporation and its subsidiary UTC Power have been leaders in the field as well as Fuel Cell Energy Inc. The state and the Connecticut Clean Energy Fund have invested millions into research and demonstration projects.

There are many other green technology companies in the state including many in Connecticut's Central Coast like Poulsen Hybrid (hybrid vehicle converter technology,) Oil Purification Systems (fluid-cleaning technology to reduce vehicle oil consumption,) Clean Diesel Technologies (technologies to reduce emissions,) Wings of Endeavor (wind turbine technology.)

Funding Sources

Connecticut has approximately 70 green technology investment professionals working in the state. These sources of private investment are coupled with investment funding from the state. Connecticut programs include:

Connecticut Clean Tech Fund - launched in November of 2008, the Connecticut Clean Tech Fund makes investments in companies focused on innovations that conserve energy and resources, protect the environment or eliminate harmful waste. The program is managed by Connecticut Innovations and began its initial funding round with $2.5 million.

Operational Demonstration Program - offers up to $750,000 to set up demonstrations designed to show the feasibility and economic benefits of new technology. The program is funded through the CT Clean Energy Fund.

New Energy Technology Fund - helps firms commercialize new energy related technologies by providing $10,000 grants to Connecticut individuals or companies to develop innovative energy-saving and renewable energy technologies. In addition to the grants, guidance is provided to introduce the new technologies to market, obtain technical and financial information including the identification of potential industry partners, and identify other state and federally sponsored programs. The program is sponsored by the CT Office of Policy and Management.

Investment Firms in CT that are Involved in Renewable Energy:
  • GE Energy Financial Services (Stamford)
  • GE Equity (Norwalk)
  • MissionPoint Capital (Norwalk)
  • FE Clean Energy Group (Darien)
  • First Reserve (Greenwich)
  • Plainfield Asset Management (Greenwich)
  • Canaan Partners (Westport)
  • Endeavor Capital Management (Westport)
  • Pegasus (Cos Cob)
  • Oak Investments (Westport)
  • Trident Capital (Westport)
  • Whitney & Co. (Westport)
  • Launch Capital (New Haven)
  • US Trust Company (Stamford)
  • Asia West Environmental Funds (Greenwich)
  • CT Innovations (Rocky Hill)
  • Starwood Energy Group (Greenwich)

Info Links:

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