Clocktower Tax Credits, LLC Announces Massachusetts Net Metering Credit Venture with LodeStar Energy, LLC

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The Venture Will Bring Guaranteed Energy Savings to Mass. Affordable Housing Owners

Maynard, MA: Today, Clocktower Tax Credits, LLC announced a venture with LodeStar Energy, LLC to offer Solar Net Metering Credits to affordable housing sponsors in Massachusetts. The Net Metering program provides significant, guaranteed savings to owners and managers of affordable housing on their electricity bill. Housing owners contract with LodeStar to purchase the solar energy generated by Lodestar at a substantial discount to the price paid to the utility for conventional electricity. Participation in the program requires no upfront cost, no ownership of the solar development and no change in the way electricity is delivered to the housing development. The initial phase of the venture is for UNITIL and NGRID-WCMA customers, and may expand to other electricity service territories.

Clocktower President Jeff Jacobson said of the announcement, “I’ve worked in the affordable housing community for over 20 years and know the vital role it plays in the state. We’re excited to offer the Net Metering program and associated cost savings to the housing developments which need it most.” Jeff Macel, President of LodeStar, added, “The Net Metering program offers affordable housing sponsors the opportunity to promote environmental protection and save money while doing so. It’s a no-brainer. ”

Any for-profit or non-profit organization in the UNITIL or NGRID-WCMA service area which has received state or federal support for an affordable housing project is eligible to participate in the first phase of the Clocktower-LodeStar venture. The Net Metering program provides a state subsidy authorized under M.G.L. Chapter 25, Section 11F. All renewable energy installations are done offsite from the housing development and within the housing development’s utility provider’s footprint. For more information, please contact Jeff Jacobson at (978) 823-0200 or jjacobson@clocktowertc.com.