Solar on St. Polycarp

Somerville,
MA
(2015)

Solar on St. Polycarp

Solar

Investment

NMTC Amount: $5,700,000
Total Project Cost: $10,559,828

IMPACT

30 FTE jobs
46 construction jobs

CDEs

Bluehub

Investor

Old National Bank

Project Description

Renewable Energy Provider to LICs: BlueHub Capital, then known as Boston Community capital, stepped in, installing solar panels at both St. Polycarp II and III. BlueHub Capital owns the panels, and covers the cost of installation and maintenance. The solar generates net metering credits, which can be applied to a customer’s utility bill—or sold to other customers. BlueHub Capital sells these credits to St. Polycarp at a 20% discount; St. Polycarp then uses the credits to offset their electrical bills, cutting their costs by 20%.

MAP

Address: 480 Mystic Avenue, Somerville, MA 2145

Census Tract: 25017350104

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