For Immediate Release
7/4/08

General Assembly Passes $650 Million Alternative Energy Investment Act

Boosts renewable energy development, reduces energy consumption, without new taxes.

Harrisburg – The Alternative Energy Investment Act, a measure spearheaded by Sen. Mary Jo White (R-21) to boost renewable energy development and help consumers reduce energy use without imposing new taxes, received final legislative approval today and was sent to the governor to be signed into law.

Senator White was the prime sponsor of the Alternative Energy Investment Act, the final version of which was amended into House Bill 1 of the Special Session on Energy Policies. White chairs the Senate's Environmental Resources and Energy Committee, as well as the Special Session Committee on Energy Policies.

In addition to support for research and development of alternative energy technologies, the $650 million initiative provides assistance to consumers to cover up to 25 percent of the cost to install energy-saving equipment and boosts funding of the Low-Income Home Energy Assistance Program (LIHEAP) by $40 million, the senator said.

"This is a responsible plan that provides immediate assistance to consumers to reduce energy use, as well as a long-term approach for developing and implementing alternative energy across Pennsylvania. And it does not impose any new taxes on the consumers we are ultimately trying to help," said White.

The Alternative Energy Investment Act includes:

$165 million for loans to businesses and loans or grants to counties, municipalities and school districts for clean energy projects, as well as loans and grants to businesses that support alternative energy production through the Commonwealth Financing Authority.
$100 million to provide loans, grants and rebates of up to 35 percent of the purchase and installation costs of solar and solar photovoltaic panels.
$92.5 million for consumer grants, loans, rebates and reimbursements of up to 25 percent of the purchase and installation price for consumer energy conservation projects.
$80 million for loans and grants for alternative energy production projects related to solar energy.
$50 million for tax credits to increase alternative energy production.
$40 million for research and development of alternative energy technologies through the Ben Franklin Technology Development Authority.
$40 million to boost funding of the Low-Income Home Energy Assistance Program (LIHEAP).
$25 million for loans and grants for geothermal and wind energy projects.
$25 million for loans and grants for high-performance buildings
$25 million for pollution control technology grants for small coal-fired power plants.
$5 million in loans through the PA Housing Finance Agency for energy efficiency projects.
$2.5 million for data center consolidation projects

"Pennsylvania will now have a framework in place to expand and diversify our energy supply, and encourage steps that can reduce demand and increase efficiency, both in our homes and businesses," said White. "It's an historic step that will boost the use of alternative and renewable energy throughout the Commonwealth."

More information on the Alternative Energy Investment Act is available online at www.senatormjwhite.com/environmental.htm.

Summary of Alternative Energy Investment Act

Contact:

Pat Henderson
(717) 787-9684

Contact:

Cheryl Schriner
(717) 787-5839

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