MassCEC is seeking proposals of innovative financing solutions to support commercial building retrofit projects (including, but not limited to office, mixed use, 4+ unit multifamily residential, retail, institutional projects) that would result in a building that is consistent with Massachusetts’ net zero 2050 greenhouse gas emission goals.
Donor Name: Massachusetts Clean Energy Technology Center
State: Massachusetts
County: All Counties
Type of Grant: Grant
Deadline: 10/21/2022
Size of the Grant: Up to $2,000,000
Details:
Achieving deep emissions reductions in the building sector in Massachusetts will require unprecedented, significant investments to reduce energy consumption and electrify nearly all thermal end uses in buildings. The Massachusetts Clean Energy Center (“MassCEC”) is exploring how targeted, public sector-led technical and financing support could help enable and accelerate private investment and financing for building energy retrofit projects. MassCEC’s investigation involves at least three (3) components: (i) extensive industry stakeholder engagement and interviews; (ii) a joint “green bank” feasibility study conducted in partnership with the City of Boston and the Green Ribbon Commission; and (iii) this Building Decarbonization Climate Finance funding opportunity.
MassCEC seeks proposals of innovative financing solutions to support commercial building retrofit projects (including, but not limited to office, mixed use, 4+ unit multifamily residential, retail, institutional projects) that would result in a building that is consistent with Massachusetts’ net zero 2050 greenhouse gas emission goals by eliminating onsite combustion of fossil fuels for heating, domestic hot water, and cooking and implementing current best practices for energy efficiency, including establishing a well-insulated and low-infiltration envelope. 2050-Ready Buildings may also incorporate solar, storage, or other demand response/distributed generation technologies.
Funding Information
- Award Potential: Up to $2,000,000.
Eligibility Criteria
Pathway A – innovative finance solution and decarbonization plans for a single project:
- Applicant Eligibility:
- Eligible proposals need to demonstrate commitment from the building owner, the project developer/contractor who has designed the retrofit, and one or more private capital providers interested in funding the project if selected.
- Developer and capital provider can be the same entity provided other requirements are still met
- Application participants may be included in more than one submitted proposal; e.g., a potential capital provider can participate on more than one submitted proposal.
- Each proposal shall indicate one entity that serves as the primary applicant (the “Lead Applicant”).
- Buildings must be commercial buildings, located in Massachusetts, which can include multifamily residential buildings with more than 4 units. Municipal, state-owned, federal, university, and school buildings are ineligible for this program.
- The retrofit project should address a building or portfolio of at least 20,000 square feet.
- Applicants and capital provider/financing entity must be able to manage operation and administration of the proposed financial solution. This can include, but is not limited to: drafting financing documents, contracts, and administering payments.
- Eligible proposals need to demonstrate commitment from the building owner, the project developer/contractor who has designed the retrofit, and one or more private capital providers interested in funding the project if selected.
Pathway B – innovative finance solution for multiple buildings:
- Applicant Eligibility
- Applicants and capital provider/financing entity must be able to manage operation and administration of the proposed financial solution. This can include, but is not limited to: drafting financing documents, contracts, and administering payments.
For more information, visit Massachusetts Clean Energy Center.
