With their ongoing commitment to sustainability, universities and colleges set ambitious goals to reduce their carbon footprints. This path to decarbonization requires a significant shift towards electrification which is the replacement of technologies that directly use fossil fuels (like natural gas, oil, and coal) with those that use electricity. Therefore, electrification is a key step in phasing out fossil fuel dependence.
Elective Pay Overview
Elective pay, also referred to as ‘direct pay’ enables tax-exempt organizations, states, and government organizations to directly receive monetary payment for eligible clean energy tax credits.
As emission reduction mandates gain traction in Massachusetts, commercial building owners face growing pressure to adopt sustainable practices. With the implementation of stretch energy codes and net zero opt-in energy codes in communities throughout the state, decarbonization has become mandatory in most places.
As organizations in the Northeast look for ways to save on energy costs and reduce their carbon footprint, solar energy is increasingly becoming the go-to solution. Despite the generous federal and state incentives, the initial cost of a solar installation can be a perceived barrier for some.
Thinking that waiting a few months to begin a solar project doesn’t matter? Think again. In Massachusetts, the solar incentives from the Solar Massachusetts Renewable Target (SMART) program significantly impacts the financial return of a solar project.
Generous federal and state incentives, technological advancements, soaring electricity costs, and ambitious sustainability goals are driving widespread adoption of solar photovoltaic technology, with solar arrays being installed on parking lots, farms, and even lakes.
Earlier this year, the Public Utilities Regulatory Authority (PURA) approved updates to the Non-Residential Renewable Energy Solutions (NRES) program, a statewide, six-year solar program that supports Connecticut’s goal of carbon-free electricity by 2040.
For years, savvy businesses in Massachusetts have been transforming their parking areas into assets that reduce costs and generate revenue by installing solar carports. These elevated canopy structures with solar photovoltaic (PV) panels produce clean, renewable energy that can be used on-site or sent back to the grid.
Here’s a Reliable Tenant for You
The commercial real estate industry is in uncharted territory. Hybrid and remote work, layoffs, and volatile interest rates are resulting in historic highs for vacancy rates and ongoing occupancy losses. The struggle to fill empty offices is a national phenomenon.
Are you looking for ways to reduce your organization’s operating costs? As the long, hot days of summer approach, there is one particular hour on one specific day that deserves your attention. That hour is known as peak demand, and your energy consumption during that hour substantially impacts your organization’s energy expenses.
K-12 schools across the United States are switching to solar power to meet their energy needs and sustainability goals. According to data from Generation180, a nonprofit organization promoting clean energy, nearly one in ten public schools now has solar panels, and Connecticut is ranked 8th in the nation for the number of schools with solar.
The Non-Residential Renewable Energy Solutions (NRES) program offers generous solar incentives for Connecticut businesses and property owners to transition to low cost, renewable energy – a proven way to save money on your electric bills, stabilize your electricity rates, or add a new source of revenue.
The recently passed Inflation Reduction Act of 2022 (the “Act”) has generated a lot of buzz – and rightly so. This is a nearly $400 billion legislative package that expands tax incentives and discounts for solar, energy storage, and other renewable energy resources.
The recent signing of the Inflation Reduction Act (IRA) of 2022 has generated both excitement and confusion for businesses and property owners. There are 730 pages of dense legalese on a range of topics, with various provisions, that require further guidance by the U.S. Department of Treasury.