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New funds for energy conservation are available in Massachusetts.

The Department of Energy Resources (DOER) has released a solicitation to expand the Qualified Energy Conservation Bonds Program (QECB).

A QECB is a tax credit bond for which the borrower pays back the principal on the bond, and the bondholder receives federal tax credits in lieu of traditional bond interest payments.

There’s just over $4 million available for the fourth round of QECB, and at least 70% of the funds being allocated must be used for governmental-purpose bonds.

The Commonwealth will make allocations to public projects only according to the following priorities:

  • Projects that promote or expand economic opportunities, including job creation.
  • Projects that meet critical energy needs and/or statewide energy-conservation goals.
  • Projects that demonstrate readiness and feasibility.
  • Projects that ANF and EOEEA determine will enhance the public good and general welfare of the Commonwealth.

Of the available funds, 100% must be used for a qualified conservation purpose, such as reducing energy use in public buildings by 20%, research and development of non-fossil fuel technologies, mass transit facilities that reduce consumption of energy and pollution from automobiles, and public education campaigns to promote energy efficiency.

You can read the solicitation from DOER, see a full list of qualified projects, and get instructions on how to apply at www.comm-pass.com, under solicitation number PON-ENE-2013-070. Applications will be accepted from until 5:00 p.m. on August 16, 2013.

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