Massachusetts Energy and Environmental Affairs (EEA) Secretary Ian Bowles has announced that federally sponsored Clean Renewable Energy Bonds (CREB) are available to help municipalities, state agencies and other public entities finance solar, wind and other renewable power projects.
A component of clean energy funding made possible through the American Recovery and Reinvestment Act, $1.6 billion in zero-interest bonds are being offered nationwide. State and local governments, municipal electric companies and electric cooperatives are each allocated one-third of the new CREBs.
‘Clean Renewable Energy Bonds are an essential tool for jump-starting the installation of smaller-scale solar and wind power in communities across Massachusetts, supporting job creation and helping the commonwealth reach the ambitious clean energy benchmarks set by Governor [Deval] Patrick,’ says Bowles.
Created by the Internal Revenue Service in 2006, the CREB program encourages the development of new renewable energy projects through zero-interest loans for states and municipalities.
SOURCE: Massachusetts Executive Office of Energy and Environmental Affairs
