Massachusetts to Spend 50 Million on Clean Energy Sector

On Tuesday, Massachusetts House Speaker Salvatore DiMasi will announce a proposal for a five-year, $50 million spending program designed to boost the state’s clean energy sector, mainly by providing seed grants for early-stage technologies, retraining experienced entrepreneurs from other industries to navigate the energy business, and overhauling vocational-ed programs.

Investors and executives are greeting the proposal as a breakthrough for the clean energy business in Massachusetts. But to raise money for the program, DiMasi proposes taking money away from an existing renewable energy program, funded by a surcharge on residential ratepayers’ electric bills, that supports construction of solar, wind, and hydropower facilities through grants and rebates.

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