The Massachusetts Technology Collaborative, a state agency promoting ‘green power’ electric generation, recently launched a $30 million program aimed at stimulating construction of solar, wind, and other renewable energy projects.

The effort involves creating a market for green power certificates earned by renewable energy generators that sell power into the New England grid. Under state rules, utilities are required to buy 1% of their customers’ power from renewable sources that have been built since 1997. The green power quota is to rise to 4% by 2009 and then 1% annually after that.