Energy efficiency gets a boost in Pennsylvania
Act 129: Energy efficiency gets a boost in Pennsylvania
Act 129 requires electric distribution companies to cut their consumption and demand by specified levels by offering customers a portfolio of cost-effective energy efficiency and conservation programs. The law is good for the people of Pennsylvania as well as our environment.
In 2008, Pennsylvania Governor Edward Rendell signed landmark legislation known as Act 129. The Act requires electric distribution companies to cut their consumption and demand by certain specified levels. Specifically, it requires them to reduce their overall electricity load by 1 percent by May 31, 2011 and 3 percent by May 31, 2013, and to reduce peak demand by 4.5 percent by offering electric customers a portfolio of cost-effective energy efficiency and conservation programs. The law also gave the Pennsylvania Public Utility Commission (PUC) the authority to extend the program, if it was determined to be cost effective.
The effect of Act 129 is to reduce the demand for energy, create thousands of green jobs, cut pollution, and reduce the need to build new power plants and transmission lines. PennFuture played a vital role in proposing key provisions of the legislation that became Act 129, testifying before legislative committees, and working with key members of the General Assembly to pass the legislation. This inside game was complemented by the hard work of staff and volunteer members to organize town halls and to visit and write legislators.
Several years later, Act 129 has proven to be cost-effective and beneficial to electric consumers. In fact, investment in energy efficiency as a result of Act 129 has saved electric customers over $278 million each year. As a result, in 2012, a Statewide Evaluator was contracted by the PUC to make additional recommendations to the PUC as to increased reduction goals. The Statewide Evaluator issued a study which looked at program potential, acquisition costs, and available funding for each utility and recommended new electricity load reduction goals ranging from 1.6 percent to 2.9 percent, with a statewide average of 2.3 percent. On August 2, 2012, the PUC voted 5-0 to adopt a Final Order extending the Act 129 energy efficiency and conservation programs for a second phase, and adopted the findings of the Statewide Evaluator’s study. This phase will run from June 1, 2013 to May 31, 2016.
Where to go when you need $ for sustainable energy
We have financing availability up to $40,000 for residential Solar and sustainable energy systems. A Home Solar loan is better than Solar leasing.
Commercial financing can be provide by Sol Systems, and the Sustainable Energy fund
Adams Electric Cooperative – Energy efficient loan program
AFC first Energy – Energy loan Commonly known as Keystone Help Home Energy Loans
Allegheny power – Commercial and industrial Energy Effieciency rebate program
Auction your Solar Energy Credits for Increased Revenue
Solar Energy Credits are a tradable credit that represents all the clean energy benefits of electricity generated from a solar electric system. Each time a solar electric system generates 1000kWh (1MWh) of electricity, an SREC or solar energy credits are issued which can then be sold or traded separately from the power.
Our strategic partnership with Sol Systems has been a huge benefit and it has allowed our client base to gain from guaranteed, reliable SREC income.
There are both federal and state incentive programs to help you get started with your solar energy system. The incentives come in the form of tax credits, treasury grants, tax rebates, low interest energy loans, Energy Efficient Mortgages(EEMs), and agricultural grants.
1. Receive a 30 % Federal Tax credit for the cost of your PV System
2. PA Sunshine incentive program helps reduce initial costs of PV installation by $.75 per DC watt.
3. Grants for agriculture and farms from Rural Energy for America Grant
4. Low interest Solar loans are availiable for project installations from the State, Utilities, Non profit organizations and private sector investors.
5.The Keystone Home Energy Loan Program (HELP), available to consumers only for work performed by Approved Contractor/Dealers, is fast and simple, preferred rate financing with special low rates for ENERGYSTAR® and other qualifying improvements exclusively for Pennsylvania homeowners.
ADVANTAGES OF FINANCING
• No money down potential
• Lowered reliance on a single utility
• Flexible investment options
• Tailored to meet your needs
• Added value for homeowner
• Flat financing payment amounts
• Homeowner receives all tax credits & rebates
• Substantially offset payments with utility savings