Massachusetts and Connecticut Offer Renewable Energy Funding

December 14, 2005

Both Massachusetts and Connecticut are currently accepting applications for renewable energy funding. The Connecticut Clean Energy Fund (CCEF) is offering $21 million through its new On-Site Renewable Distributed Generation (DG) Program, which is designed to encourage commercial, industrial, and institutional facilities to install equipment that produces electricity using clean energy technologies. Approved energy sources include fuel cells, certain types of hydropower, and wind, solar, and biomass energy. See the CCEF press release and the Onsite Renewable DG Program Web page.

In contrast, Massachusetts' Renewable Energy Trust is offering financing for the companies that provide such energy technologies or services. The Sustainable Energy Economic Development (SEED) Initiative will provide convertible loans of up to $500,000 to Massachusetts-based companies that provide products or services related to energy from fuel cells, solar cells, hydropower, or biomass, wave, tidal, or wind energy. The loans could also go to companies that are producing products such as inverters, controls, switching equipment, storage, and instrumentation for a specific renewable energy application. Applications are due on January 13th. See the SEED initiative Web page.