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July 8, 2008
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General Assembly Passes $650 Million Alternative Energy Investment Act

Harrisburg – The Alternative Energy Investment Act, a measure supported by Senate Majority Leader Dominic Pileggi (R-9) to boost renewable energy development and help consumers reduce energy use without imposing new taxes, has received final legislative approval and was sent to the governor to be signed into law.

In addition to support for research and development of alternative energy technologies, the $650 million initiative provides assistance to consumers to cover up to 25 percent of the cost to install energy-saving equipment and boosts funding of the Low-Income Home Energy Assistance Program (LIHEAP) by $40 million.

The Alternative Energy Investment Act includes:

• $165 million for 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.
• $100 million to provide loans, grants and rebates of up to 35 percent of the purchase and installation costs of solar and solar photovoltaic panels.
• $92.5 million for consumer grants, loans, rebates and reimbursements of up to 25 percent of the purchase and installation price for consumer energy conservation projects.
• $80 million for loans and grants for alternative energy production projects related to solar energy.
• $50 million for tax credits to increase alternative energy production.
• $40 million for research and development of alternative energy technologies through the Ben Franklin Technology Development Authority.
• $40 million to boost funding of the Low-Income Home Energy Assistance Program (LIHEAP).
• $25 million for loans and grants for geothermal and wind energy projects.
• $25 million for loans and grants for high-performance buildings.
• $25 million for pollution control technology grants for small coal-fired power plants.
• $5 million in loans through the PA Housing Finance Agency for energy efficiency projects.
• $2.5 million for data center consolidation projects.

Summary of Alternative Energy Investment Act

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