Harrisburg, Pa., Dec. 10
— Pennsylvania Governor Edward G. Rendell today announced the commonwealth will use up to $12 million in American Recovery and Reinvestment Act funding to create a new revolving loan fund to support energy-saving projects and develop clean, renewable energy resources that put Pennsylvanians to work.
Because applicants must provide matching funds, the initiative will attract about $18 million in private investments.
"By leveraging our federal funding, Pennsylvania will be able to finance energy efficiency and job-creating projects that will reduce energy costs for consumers, businesses and local governments," said Governor Rendell. "This funding will help produce significant environmental and economic benefits, and create a lasting legacy that will benefit Pennsylvanians for many years to come."
Applicants must be able to demonstrate: experience in lending for projects that include energy efficiency and renewable energy; the level of matching capital leveraged for the fund beyond the minimum requirement; and the readiness to begin offering loans.
The revolving loan fund will finance energy efficiency upgrades that will save at least 25 percent of the total energy consumption of an entire building or facility, and develop and install onsite energy technology that generates electricity from renewable resources, and create and retain jobs.
For additional criteria, to review the application package and a complete description of the program, visit www.recovery.pa.gov
. Under the heading "Where is Your Money Going?" click on "Energy Independence."
Applications must be submitted to the Department of Environmental Protection Grants Center--Green Energy Loan Fund, 15th Floor, Rachel Carson State Office Building, 400 market St., P.O. Box 8776, Harrisburg, PA 17105-8776. E-mails and faxes will not be accepted. The application deadline is 4 p.m. on Jan. 6.