Federally sponsored Clean Renewable Energy Bonds (CREB) are now available to help municipalities, state agencies and other public entities finance solar, wind and other renewable power projects, according to Energy and Environmental Affairs (EEA) Secretary Ian Bowles. 

A component of clean energy funding made possible through the American Recovery and Reinvestment Act, $1.6 billion in zero-interest bonds are being offered nationwide.

State and local governments, municipal electric companies and electric cooperatives are each allocated one-third of the new CREBs.

In anticipation of federal stimulus funding, Gov. Patrick in December 2008 established 10 task forces to explore how the commonwealth could best use the hundreds of millions of federal dollars expected to flow to Massachusetts for "shovel-ready" infrastructure projects. Both the Municipal Task Force, chaired by Lt. Gov. Timothy Murray, and the Energy Task Force, headed by Secretary Bowles, identified a number of solar and other renewable energy projects that could benefit from CREB funding.

"Clean Renewable Energy Bonds are an essential tool for jumpstarting the installation of smaller scale solar and wind power in communities across Massachusetts, supporting job creation and helping the commonwealth reach the ambitious clean energy benchmarks set by Gov. Patrick," Bowles said.