Inclusive Utility Investment

Ipswich Program Boston Globe Feature

CET is in the Boston Globe

We’re thrilled to have our Ipswich program highlighted in the business section of the November 20th, 2023 issue of The Boston Globe.

This feature highlights our groundbreaking energy efficiency program, our commitment to sustainable energy solutions, and our efforts to make them accessible to a wider community.

Bridging the Gap: Ipswich’s Innovative Energy Program

The article details a pilot program in Ipswich, Massachusetts, led by the Ipswich Electric Light Department in partnership with the Center for EcoTechnology. This initiative addresses a crucial challenge in the energy sector: making clean energy upgrades more affordable and accessible.

The program presents a unique solution for residents like Mark, who needed to replace an outdated and inefficient oil furnace but found themselves ineligible for statewide financing programs due to being a customer of a small municipal utility. The Ipswich program intervenes to fill this gap, covering a significant portion of the upfront costs for energy-efficient upgrades such as electric heat pumps.

Residents then recoup these costs over time through energy bill savings, following a model known as tariff-on-bill financing. This approach ensures that the upgrades are not only environmentally friendly but also economically feasible for residents.

Ipswich Program Recipient Mark, with his cat and a cup of coffee
Laurie Swope for The Boston Globe

A Model for Communities: Extending Clean Energy Accessibility

The program’s success could have broader implications beyond Ipswich. Many see it as a potential model for other communities facing similar challenges, offering a blueprint for supporting residents in making energy-efficient improvements without the burden of large upfront costs.

The financing model, particularly innovative in Massachusetts, aims to be inclusive, assisting residents who might typically encounter difficulties with traditional financing methods due to issues like homeownership or credit scores. Tying the payments to the electric bill of the residence, the program provides a stable and predictable path for repayment, ensuring continuity even if residents change residences.

Our Commitment to a Just and Equitable Future

This initiative demonstrates our commitment to environmental sustainability and community support. By addressing financial barriers to clean energy upgrades, we’re not only contributing to a healthier planet but also ensuring that the benefits of sustainable living are accessible to a wider range of people.

The Boston Globe’s recognition of our efforts is a testament to the potential impact and importance of innovative approaches in the journey toward a just and equitable future.

Read the article here.

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