On July 9, 2008, the $650 million Alternative Energy Investment Fund was signed into law, providing Pennsylvania with new resources to spur innovation, development and the use of alternative energy solutions.

The fund will help residential consumers and small businesses reduce electricity consumption and save money by incorporating renewable energy technologies and energy conservation and efficiency measures. Incentives in the form of grants, loans, reimbursements or rebates will be available for projects including, but not limited to, solar energy, energy conservation and building weatherization.

The Alternative Energy Investment Fund will also encourage economic development and renewable energy projects on the part of businesses, political subdivisions and non-profit organizations. Tax credits, grants, loans or reimbursements will be available to entities engaged in developing and deploying renewable energy and energy efficient projects.

The consumer and small business programs, which are being developed now along with guidelines and application procedures, will be administered by the Department of Environmental Protection. The economic development programs will be administered by the Commonwealth Financing Authority with technical assistance from the Department of Environmental Protection. For more information visit www.newpa.com.

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