Bond will support solar power

MassDevelopment, the state's finance and development authority, said today that a $3.1 million bond will support 12 solar power projects across the state.

Issued on behalf of the commonwealth, the federally-sponsored Clean Renewable Energy Bonds will be used to help install photovoltaic cells at such places as a Massachusetts Water Resources Authority facility at Deer Island, Worcester State College, and several prisons operated by the Massachusetts Department of Corrections, MassDevelopment said.

By participating in the no-interest bond program, Massachusetts will save more than $1 million in borrowing costs along with $180,000 in annual energy costs while reducing the amount of carbon dioxide released into the atmosphere by 500 metric tons each year, MassDevelopment said.
(By Chris Reidy, Globe staff)