BOSTON – MassDevelopment, the state’s finance and development agency, is providing $2 million in financing to Mass College Green, a pilot program designed to speed up adoption of energy-efficiency measures by independent colleges in Massachusetts.
Using an innovative financing model developed by GreenerU Inc., MassDevelopment’s investment will support energy-efficiency upgrades for members of the Association of Independent Colleges and Universities in Massachusetts.
“The savings generated from these initial projects will kick-start deeper energy-efficiency investment and allow the campuses to achieve even greater reductions in utility costs,” said MassDevelopment President and CEO Marty Jones.
During the five-year contract term, schools pay only for delivered energy efficiency. Schools do not pay for equipment or installation, so they bear no risk of a project underperforming. •