in News Departments > Policy Watch
print the content item

Gov. Edward G. Rendell, D-Pa., has signed into law a new fund that will save families and small businesses money on their energy bills by supporting investments in renewable energy and energy conservation and efficiency.

In addition to supporting energy conservation, efficiency measures and financial assistance, Rendell outlined new strategic investments made possible under the fund that will spur billions of dollars in new, private economic development projects from alternative energy companies and early stage businesses.

"Pennsylvania has established itself as leader in developing and deploying clean renewable energy resources," says Rendell, citing some of the leading businesses that now call Pennsylvania home, like Conergy, Gamesa and Iberdrola. "However, the $1 billion in private investment that has flowed into Pennsylvania, and the 3,000 jobs we've created in the renewable energy industry only begin to scratch the surface of our potential."

Included among the new $650 million fund is:

- $165 million for loans and grants to spur the development of alternative and renewable energy projects (except solar) among businesses and local governments,

- $25 million for wind energy and geothermal projects,

- $25 million for pollution control technology to help energy generators meet state and federal standards, and

- $50 million in tax credits of up to $1 million a year per project for developing and building alternative energy projects, which will help Pennsylvania companies invest and grow in the state.

SOURCE: Pennsylvania Office of the Governor



Trachte Inc._id1770
Latest Top Stories

Senate Passes Tax Extenders Bill With Wind PTC Extension

The legislation, which passed in the U.S. House earlier this month, will renew the critical production tax credit through the end of 2014 - giving developers only about two weeks left to start construction.


Transmission Study Shows Nebraska Could Handle A Lot More Wind Power

A new report released by the Nebraska Power Review Board finds that the state already has enough infrastructure to accommodate at least 2 GW of additional wind generation.


Can Wind Energy And Birds Coexist? Environmental Group Says Yes

The Environmental Defense Fund, a supporter of responsible wind energy development, points out ways to help mitigate impacts of turbines on birds and bats.


Another Study Finds Wind Turbines Do Not Affect Nearby Property Values

Research conducted by the University of Guelph focused on regions in Ontario, and the conclusion echoes that of previous studies.


Too Little, Too Late? U.S. House Approves Wind PTC Extension

The U.S. House of Representatives has passed a tax extenders package that would renew the wind production tax credit (PTC) and about 50 other expired tax breaks through 2014. The wind industry argues the short-term fix is virtually no fix at all.

Hybrid Energy Innovations 2015