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For Immediate Release
December 12, 2007
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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)
CONTACT:
Pat Henderson
(717) 787-9684
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