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For Immediate
Release
12/12/07
Contact:
Pat Henderson
(717) 787-9684
phenderson@pasen.gov
Senate Passes White's $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
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