An MMA webinar discussed funding and financial incentives available for geothermal energy projects through the federal Inflation Reduction Act. Speakers included (clockwise from top left) Massachusetts Deputy Climate Chief Jonathan Schrag, Greg Joynt, associate principal and architect at Kaestle Boos Associates, Easton Town Administrator Connor Read and MMA Legislative Analyst Josie Ahlberg.

An MMA webinar today discussed funding and financial incentives available for geothermal energy projects through the federal Inflation Reduction Act.

Massachusetts Deputy Climate Chief Jonathan Schrag and Deputy Director for Federal Funds and Infrastructure Bob Larocca began by discussing Direct Pay, which allows cities and towns to receive federal tax credits for certain clean energy projects or investments.

“We aim to provide actionable guidance and resources to communities, while building a strategy for maximum impact,” Larocca said.

LaRocca reviewed relevant tax credits for municipalities, as well as an ideal process timeline for filing with the IRS.

“Cities and towns can choose whether to file according to a calendar year or a fiscal year,” he said. “However, all of the projects for which you are seeking credit must be registered ahead of time.”

Easton Town Administrator Connor Read discussed a replacement project for his town’s public safety and public works facilities, which “will be transformative for our first responders and community,” and will use geothermal energy.

Greg Joynt, associate principal and architect at Kaestle Boos Associates, discussed stakeholders involved throughout the design process, including select board members, the conservation commission, public works, geothermal engineers, and architects. He also reviewed Easton’s stretch building energy code and lifecycle cost analysis for the geothermal project.

Read discussed how to build community support, including using allies and tailoring messaging to target audiences.

MMA Legislative Analyst Josie Ahlberg moderated 30 minutes of questions and answers, addressing inquiries about Easton’s use of rebates, fiscal caps for tax credits, and potential limitations of Elective Pay.

 

Municipal Facilities Replacement: Easton Police, Fire and Public Works: Financing Geothermal Systems in All New Municipal Facilities (6.5M PDF)
Direct Pay Overview – Executive Office for Administration and Finance, Federal Funds and Infrastructure Office, Governor’s Office of Climate Innovation and Resilience (600K PDF)

Written by
+
+