Three Massachusetts State Colleges Win Grants for Solar Energy Projects

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http://www.renewableenergyaccess.com/rea/news/story?id=47913

Officials at three state colleges in Massachusetts were recently awarded Clean Renewable EnergyBonds (CREBs) from the U.S. Internal Revenue Service to be used to erect photovoltaic (PV) solar-electric systems at the schools totaling 240 kilowatts (kW).

The projects range in size from 68 kW at Salem State College, and 82 kW at Springfield Technical Community College, to 100 kW at Mount Wachusett Community College.

"The CREBs basically act as a no-interest loan," said Environmental Affairs Secretary Ian Bowles. "Thanks to this financing vehicle, along with grants from the Massachusetts Technology Collaborative, solar power will be more than symbolic on these campuses."

The CREBs, available through the U.S Energy Policy Act of 2005, are an alternative for public institutions unable to take advantage of tax credits for clean energy. Taking advantage of these bonds would mean the colleges could increase the size of their solar installations - by a factor of 10 -- and payback the bond on an annual basis from savings on energy bills using solar rather than conventional electricity.

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