Baker Launches Clean Energy Financial Incentive Program

HYANNIS – The state has announced the launch of the Clean Peak Energy Standard, a financial incentive program that promotes the use of clean energy technologies to supply power when electricity demand is at its highest.

The program will be the first of its kind in the nation, according to Governor Charlie Baker.

Through the CPS, the use of clean energy during busy seasonal peak periods will help reduce greenhouse gas emissions, lower electricity costs and facilitate the growth of renewable energy in the state.

“To combat climate change, we need to change the way we consume our energy, the resources we use, and when we use them,” said Baker in a statement.

“The first-in-the-nation program is an innovative approach to create a cleaner and more affordable energy future for residents and businesses across the Commonwealth, while serving as a national role model for making meaningful reductions in greenhouse gas emissions.”

The CPS will create a requirement for all electricity suppliers to purchase a certain amount of Clean Peak Energy Certificates each year based on a specific percentage of the amount they supply.

Clean energy resources that generate, dispatch, or discharge energy during specified times of the day during each season of the year will generate CPECs and the CPEC market will create revenue for resources such as energy storage that can shift energy usage from the seasonal peak periods of energy usage. 

 

About Grady Culhane

Grady Culhane is a Cape Cod native currently living in Eastham. He studied media communications at Cape Cod Community College and joined the CapeCod.com News Center in 2019.



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