PACE Massachusetts
Property Assessed Clean Energy (PACE) Massachusetts is an innovative program to help commercial and industrial property owners in Massachusetts finance energy improvements.
The program lets you agree to a betterment assessment and lien on your property, sufficient to repay the financing extended by a private capital provider. If the property is sold before the financing has been repaid, the assessment stays and is transferred to subsequent property owners.
PACE Massachusetts enables owners to use energy savings to undertake more comprehensive energy upgrades with terms up to 20 years for financing amounts of $250,000 and higher.
Green & Sustainability Bonds
Green and sustainability tax-exempt bonds are issued by MassDevelopment for new capital projects that meet certain environmental principles. On behalf of the borrower, the tax-exempt bonds are publicly offered and sold to investors that benefit from the exemption from taxes on the interest income. Eligible borrowers include universities, hospitals, nonprofits, affordable housing developers, and manufacturers.
Green Loans
Green loans bridge the gap between energy efficiency and renewable energy project costs and rebates or subsidies provided by utility companies and federally sponsored programs. Eligible borrowers include Massachusetts businesses and nonprofits that have been in existence for five or more years. Loan amounts range from $50,000 to $500,000 and are net of project-related rebates or subsidies. Eligible measures include HVAC replacements or improvements, solar panels, windows, insulation, or other energy-related building improvements.
Massachusetts Manufacturing Energy Collaborative
The Massachusetts Manufacturing Energy Collaborative (MassMEC) is sponsored by MassDevelopment and managed by EarlyBird Power, and is comprised of more than 230 members. MassMEC adheres to a simple mission — “Utilities at lower costs” — by enabling businesses to procure the lowest available rates for electricity and natural gas supply. In total, the program has saved members more than $3 million dollars over utility rates and enabled members to take advantage of other cost-saving incentives, practices, and programs.
MassMEC members are eligible for a full range of energy consulting services that EarlyBird Power provides. Besides best practice energy procurement and portfolio management, EarlyBird Power can help explore options for reducing consumption, costs, and environmental impact including:
Onsite and Community Solar Projects
- Battery Storage, Fuel Cells, Combined Heat-and-Power (CHP)
- Incentives and Rebates for Efficiency Upgrades (Lighting, HVAC, Equipment)
- Sustainability Initiatives – Green Power, Carbon Offsets, Renewable Energy Certificates (RECs)