PA Senate Passes $650 Million Alternative Energy Investment Act: Boosts renewable energy development, reduces energy consumption, without new taxes.
Harrisburg - The state Senate today passed with bipartisan support the
$650 million Alternative Energy Investment Act, a measure sponsored by
Sen. Mary Jo White (R-21) to boost renewable energy development and
reduce energy consumption without imposing new taxes.
Special Session Senate Bill 1 supports research and development of
alternative energy technologies, helps municipalities and businesses
implement clean-energy projects, and provides assistance to consumers to
cover up to 25 percent of the cost to install energy-saving equipment.
It also boosts funding of the Low-Income Home Energy Assistance Program
(LIHEAP) by $100 million and provides rebates for the purchase of hybrid
vehicles. The measure invests a total of $650 million over 10 years,
funded by anticipated growth in the state gross receipts tax, and
includes no new taxes, said White, who chairs the Special Session
Committee on Energy Policies.
"The challenge was to establish a framework that allows Pennsylvania to
be aggressive in the development and use of alternative energy, while
being responsible with taxpayer dollars. This measure achieves that,"
said White. "This is an historic investment in alternative energy in
Pennsylvania that will boost use of alternative and renewable energy,
and eventually reduce traditional energy consumption."
The Alternative Energy Investment Act includes:
* $250 million to provide:
* 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. ($210 million)
* Pollution control technology grants for small coal-fired
power plants to comply with new state and federal regulations. ($25
million)
* Support for research and development of alternative
energy technologies, and venture capital for Pennsylvania start-up
businesses to develop or expand alternative and renewable energy
technologies through the Ben Franklin Technology Development Authority.
($15 million)
* $130 million for tax credits to increase alternative energy
production.
* $100 million for consumer grants, loans, rebates and
reimbursements of up to 25 percent of the purchase and installation
price for energy conservation projects.
* $100 million to boost funding of the Low-Income Home Energy
Assistance Program (LIHEAP).
* $50 million to provide loans, grants and rebates of up to 35
percent of the purchase and installation costs of solar and solar
photovoltaic panels.
* $15 million for rebates for the purchase of hybrid vehicles.
* $5 million in loans for energy efficiency projects in low-income
households.
Special Session Senate Bill 1 was approved by a vote of 44-5, and now
goes to the House of Representatives for consideration.
Summary of SS SB 1
(PDF)
Additional Information:
Environment and Energy
