New Energy Retrofits for Multifamily Homes
In what is excellent news for the Bay State from both an economic and environmental standpoint, the Massachusetts Clean Energy Center recently made an offer of $1 million to support energy-efficient retrofits for affordable multifamily housing developments.
The MassCEC was created in 2008 for this exact purpose. They aim to accelerate the Commonwealth’s clean energy technologies, companies, and projects while maintaining long-term growth and creating jobs.The Center’s new influx of funding will support Boston real estate developer WinnDevelopment in their campaign to implement weatherization and energy-efficient upgrades into Massachusetts homes.
Last year, WinnDevelopment received a $5.25 million grant from the US Department of Housing and Urban Development to fund projects including installing solar systems and LED lighting, and replacing hot water systems. The goal of these projects is to reduce energy costs by 20 percent.
With the assistance of MassCEC, owners and developers of affordable multifamily housing will be able to make their facilities more energy-efficient and install renewable energy projects without incurring new debt or significant upfront costs.. Project costs will instead be covered by savings from energy expenses. (Boston Business Journal)