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Governor Announces Alternative Energy Projects, Trims Changes To Portfolio Standards
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Gov. Rendell this week announced $20.5 million in state and federal investments that will create 1,400 jobs in the rapidly expanding clean energy industry. At the same time he again urged the General Assembly to pass an expansion of the state's Alternative Energy Portfolio Standards, but said only the portion related to increasing the mandates for solar energy.
The funding will benefit 40 diverse energy projects that will generate or save the equivalent of more than 10 billion kilowatt hours of electricity over their lifetimes. That's enough energy to power 1 million average homes in Pennsylvania for one year — and reduce carbon emissions by nearly 9 million tons, which is the equivalent of removing 1.5 million passenger cars from the roads for one year.
"A few years ago, projects like these existed only in theory. Today, they are a reality," said Gov. Rendell. "They benefit Pennsylvania's consumers by generating and saving electricity, driving down utility rates, making additional projects more affordable and feasible, while stimulating the economy by creating manufacturing and employment opportunities, attracting private investments and making our environment cleaner."
The Governor noted that the state investment provided through the PA Energy Development Authority, will also leverage more than $211 million in private funds, generating a 10-to-1 return on investment. Since 2005, PEDA has invested more than $99 million in 201 projects which have generated more than $883 million in matching funds.
Funding for the projects came from the Growing Greener II bond issue (which he noted is out of money), federal economic stimulus funds and a settlement involving Duquesne Light.
A list of projects funded is available online.
Portfolio Standards
He also stressed the need to increase Pennsylvania's clean energy portfolio standards, saying higher standards will translate into even more jobs and economic development for the state — just as the first Alternative Energy Portfolio Standards law did.
The House has had Alternative Energy Portfolio Standard legislation-- House Bill 80 (Vitali-D-Delaware) and House Bill 2405 (DePasquale-D-York) expanding the Alternative Energy Portfolio Standards and authorizing a carbon sequestration network (both without funding)-- on the House Calendar since July 2 of 2009 without being able to bring the bills to a vote. |
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9/6/2010 |
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