Renewable Energy Business Interest
How will Massachusetts' new Net Metering regulations help businesses, communities, and non-profits develop renewable energy? On August 20th, the Massachusetts Department of Public Utilities issued a new "Net Metering" Order that will provide significant financial assistance to builders of new wind turbines and solar facilities. Authorized as part of the state’s Green Communities Act, the new Net Metering rules will give solar and wind project developers valuable credits from their local electric distribution company ("utility") for excess energy they produce. These credits will be worth close to the utility’s full retail rate for electricity. Previously, such developers could receive the wholesale rate, which is only a fraction of the new rate, and only for very small projects. Under the new rules, project developers can transfer credits to other properties that are not even sited near the solar or wind facility. As a result, communities, businesses and non-profits such as colleges can reduce or eliminate their electric bills at major installations by building and operating renewable energy facilities sited at much more economically and environmentally beneficial locations. Vincent DeVito, Partner Bowditch & Dewey, LLP One International Place, 44th Floor Boston, MA 02110 Tel: +1 617 757 6518 Fax:+1 508 929 3019 DC: +1 202 329 4070 NY: +1 518 210-3643 http://www.bowditch.com/Attorneys/DeVitoVincent Bar Admissions: District of Columbia - Commonwealth of Massachusetts - State of New York
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