Bill > S1753

This bill establishes programs to improve energy efficiency in affordable housing. The Department of Energy Resources, in collaboration with the Department of Housing and Community Development, will create a program to help owners of multi-family rental housing for low and moderate-income individuals purchase energy-efficient items like insulation, new windows, advanced thermostats, and efficient heating and hot water systems, with qualified banks and credit unions offering zero and low-interest loans, supported by at least $4,000,000 annually for interest rate reductions or other credit enhancements. Additionally, the Massachusetts Housing Finance Agency will administer a "Housing Efficiency and Affordability Program" offering grants, low-interest loans, and other financial aid for energy-efficient upgrades in new low and moderate-income housing, provided the designs exceed state building code energy conservation requirements by at least 15% or meet Energy Star standards, and that the cost savings benefit tenants, with the Massachusetts Technology Collaborative contributing $5,000,000 to match funds from the Massachusetts Renewable Energy Trust.