Massachusetts Colleges Score Grants for Solar Energy Projects

April 3, 2007

Three Massachusetts state colleges have been awarded Clean Renewable Energy Bonds (CREBs) by the U.S. Internal Revenue Service for installing photovoltaic (PV) systems that will generate a total of 240 kilowatts (kW).

The awardees are Salem State College, for a 68-kW installation; Springfield Technical Community College, for an 82-kw installation; and Mount Wachusett Community College, for a 100-kW installation.

Acting essentially as a no-interest loan, the CREBs are made available through the U.S Energy Policy Act of 2005. CREBs were created so that public institutions may utilize tax credits for clean energy. The bonds can be paid back from savings on energy bills — savings that are created by using solar rather than conventional electricity.

For more information on CREBS, see the April 2 IRS Bulletin 2007-14.

Source: March 28 article in Renewable Energy Access.

To read more information about renewable energy and energy efficiency projects in Massachusetts see:

• Massachusetts news published on the EERE Web site.
• Brief project descriptions from the Massachusetts Energy Office published in the EERE State Energy Program newsletter, Conservation Update.
• Massachusetts publications listed in the EERE State Publications Database.