News: Green Buildings

The biennial issues of July in the Massachusetts Legislature - by Susan Bernstein

Susan Bernstein, attorney at law Susan Bernstein, attorney at law

The Massachusetts Legislature ended its two-year session at the last possible moment: midnight on July 31. The body enacted, among other laws, an omnibus energy bill, “An Act to Promote Energy Diversity,” which is aimed at addressing all forms of renewable energy. Both the House and Senate had approved slightly different versions with almost unanimous support in each chamber. The version of the bill passed by the Legislature is characterized as a “compromise bill,” not as aggressive as the senate version but includes agreed upon features of both the house and administration versions of the bill. The house committee chair is quoted in the media as stating that the new law will “authorize the largest procurement of renewable energy in the history of Massachusetts.” The head of the Environmental League of Massachusetts is quoted as stating “this is a huge victory for off-shore wind both for our environment and our economy…and for diversifying our energy portfolio away from fossil fuels by adding both wind and hydro.”

Among the features included in the Act is the requirement that utilities contract for up to 2,800 megawatts of hydro and wind power in the years ahead, which is equal to approximately one-third of the power used annually in Massachusetts.

Energy advocates expressed disappointment that the Act is not as aggressive with more quotas for renewable energy and that a provision to prevent electric companies from passing costs onto ratepayers for construction of natural gas pipelines was dropped.

Additionally, $227 million from the Fiscal Year 2017 budget vetoed by the governor was restored by the legislature, but it is unclear as to their impact on the operations of the Departments of Environmental Protection and Conservation and Recreation. More than 75 environmental groups pleaded with the legislature to override and restore the vetoed funds.

As a national leader in addressing the increasing impact of global warming, Massachusetts’ future successes will be based in large measure on the legislative and policy goals aimed at providing greater incentives for green development and meeting the important goals already in place to prevent further deterioration of our atmosphere by greenhouse gas emissions.

Susan Bernstein is an attorney at law, Needham, Mass.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary