The Commonwealth Financing Authority is now accepting applications for loans for the installation of solar energy generation equipment and the manufacture or assembly of solar energy equipment in Pennsylvania.

Eligible projects include facilities to generate, distribute, or store solar energy, as well as manufacturing or assembly facilities for solar panels or other solar equipment. Solar photovoltaic (electric) technologies are eligible. Projects must have a useful life of at least twenty-two years.

Projects for the development or construction of facilities used for the research and development of technology related to solar energy are also eligible.

Eligible applicants for the loans include businesses, economic development organizations and local governments and school districts.

The maximum amount of any loan for a manufacturer of solar equipment shall not exceed $40,000 for every new job projected to be created by the business within three years after approval of the loan.

The maximum loan amount for a solar energy generation or distribution project shall not exceed $5 million or $3.00 per watt, whichever is less.  There is a match requirement of $1 for every $3 of Program funds awarded.

CFA is making $30 million available for this program.

Applications must be received 60 days before the next CBF Board meeting, which means the first deadline for applications in 2017 is January 23, then March 24 and then May 12.

This program is jointly administered by the CFA, DEP and DCED.

Click Here for all the details.  Questions should be directed to DCED’s Center for Business Financing at 717-787-6245.

(Photo: Tom Ridge Environmental Center, Presque Isle State Park.)

11/14/2016