Bill > H4568

This bill establishes a Commercial Property Assessed Clean Energy (PACE) program to promote energy diversity by allowing municipalities to offer financing for commercial energy improvements, such as energy efficiency upgrades or renewable energy installations, through a "betterment assessment" levied on qualifying commercial or industrial properties. The Massachusetts Development Finance Agency (MDFA) is authorized to issue "PACE bonds" (revenue bonds, not general obligation bonds) to fund these projects, and the Department of Energy Resources (DOER) will oversee program guidelines and approve projects. The bill also includes provisions for small hydroelectric power net metering, the development of offshore wind energy generation, clean energy generation, energy storage systems, and the establishment of a carbon reduction research center, alongside creating a nuclear decommissioning citizens advisory panel and addressing gas leak repairs.