PA Financing Authority Approves Solar Incentive Program

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Under new guidelines approved by the Commonwealth Financing Authority, Pennsylvania businesses, economic development organizations and political subdivisions can now apply for a share of a new $80 million program for solar energy, according to Gov. Edward G. Rendell, D-Pa.

The program is designed to advance projects that generate and use solar energy, or that manufacture and assemble solar equipment. Developing or building facilities for research and development purposes also are eligible. Under the guidelines, applicants must provide evidence of at least $1 in matching funds for every $1 of program funds awarded by the commonwealth.

‘Having this plan in place is a major step forward in creating jobs, expanding Pennsylvania's manufacturing base and producing environmentally friendly, homegrown energy,’ states Rendell. ‘There are tens, if not hundreds, of millions of dollars in solar energy projects now looking for a home. Other states and nations are competing for those projects and the good jobs they'll create.’

The program is one component of the $650 million Alternative Energy Investment Fund that Rendell signed into law in July. The fund is expected to create at least 10,000 new jobs and attract more than $3.5 billion in private investment to Pennsylvania.

For more information on program guidelines, visit www.newpa.com.

SOURCE: Office Of Gov. Edward Rendell

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