At Mil Cities Community Investments + Foundation for Business Equity, we strongly believe that you should have access to clean energy for a healthier and safer community. Unfortunately, this is not the case for many individuals. In 2020, the American Council for an Energy-Efficient Economy (ACEEE) reported that a disproportionate number of Hispanic, Black, and Native American households face a higher energy burden nationally compared to white households. Additionally, the national average energy burden for low-income households is three times higher than higher income households, as reported by the Department of Energy (DOE). The transition towards clean energy should prioritize the communities that are most adversely affected by climate change, which are often minority and low-income communities.
For Earth Month, we have identified four key areas and curated a list of resources for each to provide guidance and tips to homeowners who are interested in learning more: Energy Efficient Homes, Solar Panels, Electrical Vehicles, and Saving on Energy Bills. Additionally, we invite you explore our Home Improvement, Solar Plus, Lead Removal, and Mass Save® HEAT Loan programs to learn more about how we can support you as well. Happy Earth Month!
As defined by Energy Star, “energy efficiency means using less energy to get the same job done – and in the process, cutting energy bills and reducing pollution.” One of the most effective ways for homeowners to reduce their carbon footprint, save money on energy bills, and create a healthier living environment for their families is to install energy-efficient systems and appliances in their homes. This could include measures such as adding more insulation to the house to reduce heat loss, installing heat pumps, or exploring alternative power sources such as solar energy. To assist you in getting started, we have provided some resources below. At MCCI, we offer Home Improvement loans, which include upgrades to inefficient cooling and heating systems, in addition to being a Mass Save® HEAT Loan lender. To learn more, please refer to the resources listed below.
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There are many advantages to installing solar panels in your home. By doing so, you can decrease your electricity bills, avoid increasing energy costs, boost your property value, reduce your environmental impact, and qualify for tax benefits and rebates. However, not everyone is familiar with the process of installing solar panels and the available options. For residents of Lawrence, MCCI offers our Solar Plus loan program – a flexible and affordable low-interest loan for owner-occupied homes with fixed monthly payments. If you are interested in learning more about our Solar Plus loan program, click here and check out the resources below.
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The first electric car (EV) was introduced in America in 1890. While it gained popularity, EVs were quickly overtaken by gas-powered cars which were cheaper to mass-produce. However, there has been a renewed interest in electric cars as gas prices continue to surge and the environmental crisis worsens. Although electric vehicles have been traditionally more expensive, more automobile manufacturers are creating affordable options, and there are many tax and rebate programs available to help people access the environmental and cost benefits of owning an electric car. Check out the resources below to learn more.
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Every person and household can benefit from energy-efficient solutions that can reduce their electric bills. The cost of electricity has been increasing at a rate of 2.36% per year for the past 25 years, so it is both economically and environmentally necessary to explore clean energy and energy efficiency options. At MCCI, we offer various options for residential loans that can help reduce energy costs. However, you don’t need to make significant changes to save on your energy bills. We’ve included resources below for tax rebates and programs, as well as simple tips that you can implement to reduce your energy usage. If you want to learn more about what we offer, feel free to reach out to us!
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Nectar Community Investments, with the Boston Foundation and the Local Enterprise Assistance Fund, provided a $900,000 financing package for construction and launch of a Vicente’s Supermarket branch at 452 Mount Pleasant St. Vicente’s estimates the store has created about 30 construction jobs through 10 contractors, most owned by people of color. Read the Article
Fourth Vicente’s supermarket brings jobs, access to healthy food to South Coast community Nectar Community Investments, in partnership with The Boston Foundation and Local Enterprise Assistance Fund (LEAF), has provided a financing package for the new Vicente’s Supermarket in New Bedford, Mass. The New Bedford store, which opened today as the company’s fourth location, mirrors the approach of its Brockton and Pawtucket, R.I., markets: located in a low- to moderate-income community adjacent to a food desert and making healthy food accessible to historically underserved neighborhoods. “We’re proud to help provide this critical financing to Vicente’s Supermarket as the company expands into New Bedford,” said Nectar Community Investments Executive Director Glynn Lloyd. “Small businesses are the backbone of the Massachusetts economy, and Vicente’s exemplifies that definition: providing healthy food access, creating jobs and positively impacting the community. Thank you to our ecosystem partners at The Boston Foundation and LEAF as well for teaming up with us to make this financing possible.” “In Brockton and Pawtucket, Vicente’s markets are not only meeting a critical need for food — they are central hubs in their communities,” said Orlando Watkins, Vice President and Chief Program Officer at the Boston Foundation. “The Boston Foundation has a longstanding history …
Nectar’s Executive Director Glynn Lloyd spoke to The Bay State Banner about our organization’s innovative approach and a recent award from the CDFI Fund to help fuel our work. Learn more about patient capital, the Business Equity Initiative for Diverse Developers, environmental justice efforts and more in this story.
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