MTC - Business Expansion Initiative (Massachusetts)
Last modified on February 12, 2015.
Financial Incentive Program
|Name||MTC - Business Expansion Initiative|
|Incentive Type||Industry Recruitment/Support|
|Applicable Sector||Commercial, Industrial|
|Eligible Technologies||Solar Thermal Electric, Photovoltaics, Wind, Biomass, Hydroelectric, Tidal Energy, Wave Energy, Ocean Thermal, Fuel Cells using Renewable Fuels, Power Inverters, Power Controls, etc.|
|Energy Category||Renewable Energy Incentive Programs|
|Amount||500,000 to 3,000,000 per company|
|Maximum Incentive||Up to 50% of capital expenses and related spending over a 24-month window; at most 75% of funding may come from public sources, including equity, debt or grant|
|Terms||Per co-lender interest rate, with allowable discounts on MTC portion for number of employees to be hired and amount of investment made in the state. Up to 10-year amortization (seven years or less preferred), with flexibility in amortization schedule.|
|Program Administrator||Massachusetts Technology Collaborative|
|Date added to DSIRE||2007-06-05|
|Last DSIRE Review||2009-07-07|
The Massachusetts Technology Collaborative (MTC), as administrator of the state's Renewable Energy Trust Fund, offers loans to support renewable energy companies entering or expanding within the manufacturing stage of commercial development. Companies that currently, or plan to, manufacture renewable energy technology products in Massachusetts are generally eligible. Products may be new or existing, or a combination of the two.
Interested applicants must submit a pre-application prior to submitting a full application. Pre-applications will be accepted on an ongoing basis. If the MTC determines that an applicant is eligible for funding after this threshold review, a full application will be requested. See the program web site and solicitation above for more information.
Authorities (Please contact the if there are any file problems.)
|Authority 1:||Business Expansion Initiative Solicitation (No. 2007-BEI-01)|
|Contact Name||Ian Springsteel|
|Department||Massachusetts Technology Collaborative|
|Division||Renewable Energy Trust|
|Address||75 North Drive|
|Phone||(508) 870-0312 Ext:255|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.