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Financing Available for Alternative Energy Projects

Tuesday May 30th, 2017

Townships that want to begin using alternative energy may apply for grants or loans through the Commonwealth Finance Authority’s (CFA) Renewable Energy Program and Solar Energy Program. The deadline for applications is July 14.

These programs are jointly administered by the CFA and state Departments of Environmental Protection (DEP) and Community and Economic Development (DCED).

The Renewable Energy Program provides grants and loans to promote the use of geothermal and wind energy. Grants are available for wind energy generation and distribution up to $1 million or 30 percent of the project cost, whichever is less. Grants for planning and feasibility studies are available for up to $175,000 or 50 percent of the project cost, whichever is less.

Loans for geothermal systems or wind energy generation or distribution projects may not exceed $5 million or 50 percent of the project cost, whichever is less.

There is a match requirement of at least $1 for every $1 awarded and a $100 non-refundable application fee.

The Solar Energy Program provides loans to promote the use of solar energy. Eligible projects include facilities to generate, distribute, or store solar photovoltaic energy.

The maximum loan may not exceed $5 million or $3 per watt, whichever is less. There is a match requirement of $1 for every $3 awarded and a $100 non-refundable application fee.

For more information, call DCED’s Ryan Emerson at (717) 787-6245 or go to http://dced.pa.gov, hover over “Programs & Funding,” and click on “Commonwealth Financing Authority.” Hover over the “Programs” box and choose “Energy” in the pop-up menu.