Legislative Mandate

The Renewable Energy Trust was created in 1998 by the Legislature as an essential component of efforts to restructure the electric utility industry and to promote the development of renewable energy in the Commonwealth.

The legislative goal is to "generate the maximum economic and environmental benefits over time from renewable energy to the rate-payers of the Commonwealth through a series of initiatives which exploits the advantage of renewable energy in a more competitive marketplace."

These initiatives seek to:

• Increase the supply of -- and demand for -- renewable energy;
  
• Achieve the economic and environmental goals of the legislation;
  
• Strengthen the ability of Massachusetts companies to compete in the marketplace, helping to establish the infrastructure needed to support a growing, sustainable and competitive market for renewable energy;
  
• Leverage the resources and expertise of others in both the public and private sectors wherever possible, maximizing the impact of the Trust’s investments; and
  
• Build upon consumer choice.

The Massachusetts Technology Collaborative was selected by the Legislature to lead this effort because of its innovative approach to economic development and its record of success, especially in working with technology-based industries.

The ability to ramp up to full operation was initially constrained by a lawsuit, which challenged the Trust’s funding mechanism. The case was heard by the Massachusetts Supreme Judicial Court on March 6, 2000, and on April 19, 2000, the SJC ruled unanimously in the Trust's favor.

The Trust is an essential part of the state’s strategy to reduce dependence on fossil fuels. The Trust is working with consumer groups, industry, non-profit organizations, universities and colleges, state, national and international agencies, legislators, citizens, and the RET Advisory Committee to change the way Massachusetts consumes energy.