New Legislation a Boon to Massachusetts Organizations Looking to Go Green07/10/2008
Woburn, MA (July 10, 2008)—Tradition Energy, a full-service energy management advisor and one of the nation’s largest energy procurement firms, today announced that new legislation in Massachusetts can be a significant boon to organizations looking to go green . Last week, Governor Deval Patrick signed into law a bill designed to promote the growth of renewable energy in the Commonwealth.
“The passage of this bill is a powerful signal of Massachusetts’ commitment to the continued development of alternative energy sources,” says Lauren Pera, Manager, Environmental Products, Tradition Energy. “Energy managers in both the public and private sectors can leverage provisions set forth in this new legislation and take advantage of state-sponsored programs to help them achieve the benefits of going green.”
The Commonwealth has set a goal of reducing the use of fossil fuels in public buildings by 10% from 2007 levels by the year 2020 through the increased efficiency of both equipment and the building envelope. The bill provides for loans and grants from the Massachusetts Renewable Energy Trust Fund and the Alternative Compliance Fund to municipalities to finance the cost of energy efficient improvements, allowing them to realize energy savings. The bill also requires that at least 20% of the Commonwealth’s electric load be met by new, renewable generation by the year 2020.
In addition, the bill includes an extension of the business tax credit of 15% or $300 to Massachusetts businesses to offset the cost of purchasing a solar water heating system. Additionally, a new smart metering program will allow smaller commercial and industrial businesses to participate in demand response, helping them lower utility bills by reducing their electricity demand.
Organizations may choose green power for a variety of reasons, including generating positive PR and national recognition through programs like Environmental Protection Agency’s Energy Star and Green Power Partnership. Green buildings help attract and retain tenants and improve employee moral. Tradition Energy recently helped non-profit organization Third Sector New England purchase 100% green energy for their 110,000 square foot Boston-based NonProfit Center in keeping with their mission of sustainability.
“Managing the energy commodity is a complex job, and this bill adds a lot of new information to the mix,” comments Ben Parker, Director, New England Region, Tradition Energy. “It helps to partner with a knowledgeable and experienced energy advisor to make sense of the market. Tradition Energy, along with wholesale parent and environmental brokering award winner TFS Energy has helped organizations all over Massachusetts and across the country create comprehensive energy management strategies that include environmental products, demand response and efficiency programs.”
Tradition Energy’s parent company, TFS Energy, recently won 14 awards in a survey conducted by Environmental Finance magazine for excellence in brokering environmental products.
Inquiries: Jennifer Santiago, (713) 609-9927, jsantiago@traditionenergy.com
About Tradition Energy
Tradition Energy is one of the nation’s largest energy procurement advisors, helping commercial, industrial and governmental organizations manage electricity and natural gas costs in volatile deregulated energy markets. Tradition Energy is a division of TFS Energy, a top wholesale energy brokerage with eight offices worldwide, over 200 employees and in the energy business since 1986. TFS Energy was recently awarded 14 awards, more than any other company in the 8-year history of Environmental Finance magazine’s industry survey. TFS is a subsidiary of Compagnie Financiére Tradition (CFT), a leading global inter-dealer broker in financial and commodity-related products with a presence in 24 countries and over 2,400 employees. For more information, please visit www.traditionenergy.com