PEDA to Offer $10 million in Aid For Clean Energy Projects

by Armando Duke

March 16, 2005 Harrisburg, PA - Environmental Protection Secretary Kathleen A. McGinty today announced that the newly revitalized Pennsylvania Energy Development Authority will release new guidelines April 1 for $10 million in available financial assistance to build clean energy projects in Pennsylvania.

"Pennsylvania is leading the way in the development and deployment of new technology, offering significant financial incentives to make energy manufacturing a cornerstone of the state's economic future and ensuring that more electricity generation comes from environmentally beneficial resources," Secretary McGinty said.

PEDA, which has been dormant since the mid-1990s, elected a raft of new officers and appointed staff in early March and opened discussions on the state's new energy policies. PEDA also began preparing guidelines for $10 million in funding, which is to be made public April 1. The guidelines are to establish the eligability of funding under the $10 in financial assistance being made available for clean energy projects in the Commonwealth of Pennsylvania.

Applicants may seek financial assistance in the form of grants, loans or loan guarantees for a variety of electric power projects, including wind, solar, biomass, waste coal and coal gasification, among others. Applied research projects related to electric power also are eligible to apply.

Proposed projects will be evaluated on a variety of criteria, including their ability to promote Pennsylvania's indigenous energy resources, encourage energy diversity and enhance energy security. Projects will be judged on their potential to create jobs and stimulate investment in the Commonwealth. Potential environmental benefits as well as technical feasibility and cost- effectiveness will also be considered.

The authority was originally established in 1982 to promote applied energy research, provide financial incentives for the deployment of clean, alternative energy projects and promote investment in Pennsylvania's energy sector. After a period of inactivity, Governor Rendell revitalized PEDA as part of his strategy to build a clean, indigenous, diversified energy industry in the state.

Pennsylvania has adopted a number of progressive policy and financial tools designed to promote advanced energy projects in the state, including an Advanced Energy Portfolio Standard that required 18 percent of the electricity sold at retail in Pennsylvania to come from advanced sources, including eight percent from renewables, with a substantial solar requirement. Opportunities exist for low-cost, long-term partnerships with existing manufacturers and industrial operations.

Source: Pennsylvania Department of Environmental Protection