News

 

Solar Energy
Grant
Program Funding

 
       

$180 Million in PA Funds Available

For Solar Energy Projects

Reading Electric, a leading supplier of electromechanical equipment and services, and problem solver for over 50 years, provides technical information to the region’s Commercial and Industrial Community. This Bulletin provides information on Pennsylvania and Federal Solar Funding Programs.

A total of $180 million in State funds is available for solar energy projects through the PA Alternative Energy Investment Fund. The funds are being administered by the PA Department of Environmental Protection, the PA Commonwealth Financing Authority, and the PA Department of Community and Economic Development. The programs have varying requirements for eligibility, funding levels, and application requirements. Below is a brief summary of the program highlights:

$100 Million Sunshine Program - for Businesses with under 100 Employees (and Residential)

• Rebate Amount: up to $2.00 per watt; approximately 35% of a project’s cost
• Eligible Projects: Solar Electric and Solar Water Heating Systems
• Application: must be submitted by a PA DEP Approved Installer
• Program Duration: First-come, first served. Rebate amounts decline over time.

$80 Million Solar Energy Program - Grants and Loans for Businesses & Non-Profit Entities

• Maximum Grant Amount: $1 million or $2.25 per watt - whichever is less
• Maximum Loan Amount: $5 million or $2.25 per watt - whichever is less
• Eligible Projects: Solar Electric and Solar Water Heating Systems
• Application and Duration: Competitive selection, while funds remain

PA Alternative Energy Credit Program

• Receive payments for each 1,000kWh (credit unit) produced via Solar Energy
• Average value in 2007-2008 was $230 per credit

These PA programs can be combined with Federal grant programs which cover 30% of the costs of solar systems. The end result is that up to 50-65% of total solar costs are reimbursable today through grant programs and up to 80-95% or more of total solar costs are recoverable when including accelerated depreciation benefits and Alternative Energy Credits payments. As Scott Dunkelberger, Executive Director of the Commonwealth Financing Authority, states, “There will never, underscore never, be a better time financially to install a solar system.”

Reading Electric is conducting Workshops on these Funding Programs and how installing solar systems may result in significant energy savings for companies as rate caps come off in PA. For more information on Solar Energy Funding, contact info@readingelectric.com. Or visit our seminar section here

For additional information, you can visit:

PA Sunshine Program:                www.depweb.state.pa.us

PA Solar Energy Program:           www.newpa.com
PA Alternative Energy Credits:     www.paaeps.com

Federal & State Incentives:          www.dsireusa.org

Quotes                                                                                                   Home

For Over 50 Years – 24/7 Emergency Repair & Service