Massachusetts-based company launches program to fund community solar projects

With the federal dollars for renewable energy slowing to a trickle or stopping altogether, a Cambridge-based company is looking to provide funding for community solar projects in underserved areas through a new renewable energy credit (REC) program.

With uncertainty surrounding federal funding, programs like Solstice’s renewable energy credits could help bridge the gap for organizations trying to find the money to launch renewable energy projects, said Kyle Murray, Massachusetts program director at the Acadia Center, a non-profit research and advocacy organization dedicated to combatting climate change. Solar developers and organizations working to adopt solar use a variety of different funding mechanisms and that extra $50,000 to $160,000 can put a project over the top, especially for smaller organizations, he added.

“We need to be creative in this environment about how we fund projects, and this seems like it could be promising,” said Murray.

To read the full article from Commonwealth Beacon, click here.