The Renewable Energy Trust was created in 1998 by the Legislature as a component of efforts to restructure the electric utility industry and to promote the development of renewable energy in the Massachusetts.
The initiatives of the RETF seek to:
- Increase the supply of -- and demand for -- renewable energy
- Achieve the economic and environmental goals of the legislation
- Strengthen the ability of Massachusetts companies to compete
in the marketplace, helping to establish the infrastructure
needed to support a growing, sustainable and competitive market
for renewable energy
- Leverage the resources and expertise of others in both
the public and private sectors wherever possible, maximizing
the impact of the Trust’s investments
- Build upon consumer choice.
Funding Source
Between 1998 and 2003, the fund is expected to collect roughly $150 million through a charge to all customers at a rate of $6 per year.
Program Goals
- The goals of the fund supports distributed generation,
principally fuel cell technology through the Premium Power
Program.
- 2001-2002: will establish a pilot program for up to twenty
organizations 17 to power their facilities using fuel cells.
- Goal of siting 8 MWs of fuel cells