The proposed Massachusetts mandate is modeled after a similar policy in California and would provide exemptions under certain circumstances.
Governors of the Northeast states both said the adoption of electric vehicles is essential to meet environmental and clean energy goals.
The Massachusetts Municipal Wholesale Electric Co. plans to use a local financial institution to issue tax-exempt revenue bonds to finance the project.
The proposed initiative would address issues that prevent low-income customers from taking part in Community Shared Solar projects.
The legislation landed on Gov. Charlie Baker’s desk for a second time after he “reluctantly” vetoed it in January. This time, he sent back a list of proposed amendments.
The developer must comply with state and federal laws to protect water quality and natural resources at the solar array, restore impacted resources, and place a parcel of 24 acres into conservation.
Tax equity financing for the 24.6 MW of capacity was secured in a partnership with Crestmark, a division of MetaBank N.A.
After the governor “reluctantly” vetoed the bill, lawmakers vowed to immediately refile and again pass the sweeping legislation.
Under an agreement with Boston-based Nexamp, Big Y is subscribing to 19 solar projects across Massachusetts.
The debt will be used to finance commercial and industrial projects and distributed generation assets, and will accommodate multiple tax equity partnerships and structures.
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