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Funding Resources
Funding Resources
| MA Energy Revolving Loan Fund | |
|---|---|
| Type of Incentive | Loan |
| Eligible States | MA |
| Eligible Technology | Backpressure Turbine, Boiler, Combustion Turbine, Condensing Turbine, Extracting Turbine, Fuel Cell, Microturbine, Other, Reciprocating Engine, Heat Recovery Generator, Stirling Engine |
| Eligible Fuel | # 2 Fuel Oil, # 6 Fuel Oil, Biogas, Coal, Hydrogen, LFG, Municipal Solid Waste, Natural Gas, Other, Waste heat Recovery |
| Eligible Project Size | |
| Critical Information | In July 2010, Massachusetts passed the PACE financing as part of a larger "Municipal Relief Bill" (H.B. 4877). The bill authorizes local governments to establish an Energy Revolving Loan Fund to provide financing to private property owners (including condominium owners, as long as the improvements include part of the common areas/facilities) for energy efficiency or renewable energy improvements. The legislation does not specify which improvements are eligible, but it does allow local governments to consult with the Division of Green Communities (part of the Massachusetts Department of Energy Resources). |
| Start Date | 7/27/2010 |
| End Date |
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| Minimum Efficiency (%) |
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| Additional Information | Local governments interested in establishing an Energy Revolving Loan Fund must first hold a public meeting. Then, the local government must pass an ordinance or by-law to create the program and identify the fund's administrator. Local governments are allowed to enter into agreements with other local governments to create and administer a program. After establishing an Energy Revolving Loan Fund, the administrator is authorized to provide financing to property owners for energy efficiency and renewable energy improvements as long as those property owners have had an energy audit* and meet additional energy conservation requirements as established. Property owners that opt-in to a local program will enter into a "betterment" agreement recorded as established by law previously. Property owners are responsible for repaying the assessment according to the terms of the betterment agreement. |
| Web Site |
http://www.dsireusa.org/incentives/ incentive.cfm?Incentive_Code=MA106F¤tpageid=3&EE=1&RE=1  |
| Primary Contact |
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