(a) The secretary of housing and economic development and the secretary of energy and environmental affairs shall jointly study and investigate the efficacy and feasibility of establishing a green technology development fund that would support and promote the development, growth, and adoption of clean energy, as defined in section 1 of chapter 23J of the General Laws. The study and investigation shall include, but shall not be limited to, an examination of the following topics: (i) gaps in financing for clean energy technology and clean energy projects; (ii) ways of providing financing opportunities for clean energy technology companies and clean technology projects; (iii) the amount of initial funding sufficient for the establishment of such a fund; (iv) mechanisms through which such a fund could attract additional capital and become financially self-sustainable; (v) how long the process of becoming financially self-sustainable may take; (vi) mechanisms to establish a guarantee against losses from the green technology development fund; and (vii) best practices utilized by similar institutions.
(b) The secretary of housing and economic development and the secretary of energy and environmental affairs shall file a joint report with the findings of their study with the clerks of the house of representatives and senate and the chairs of the joint committee on telecommunications, utilities, and energy by December 31, 2021.
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