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October 17, 2007
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Erickson: Committee Advances "Alternative Energy Investment Act"

Harrisburg –Legislation co-sponsored by Sen. Ted Erickson (R-26) to invest $530 million over the next seven years in consumer energy programs, energy conservation, and the development of alternative and renewable energy was approved by a special Senate committee today.

The Alternative Energy Investment Act provides funding for grants and loans to projects geared at improving energy supply and efficiency, improved conservation and reduced demand for energy – with no tax increases. It was reported out of the Senate Special Session Committee on Energy Policies.

"I have had a great interest in promoting alternative energy and this cuts across all of the areas we need to look at and understand. It addresses technology development, pollution control and improving efficiencies," said Erickson, who serves on the committee.

Special Session Senate Bill 1 would provide:

• $20 million annually for consumer/home energy efficiency programs.
• $20 million annually in tax credits for investments in alternative energy production projects; and
• $20 million annually to finance a $250 million bond for alternative and renewable energy development, clean energy and energy conservation, and pollution control technology.

For consumers, $20 million would be available for grants, rebates and reimbursements for:

• Purchasing energy-efficient heating and cooling units and appliances; and
• Residential energy conservation projects, including purchasing and installing:
  • Solar or solar photovoltaic panels;
  • Energy efficient windows and doors; and
  • Insulation, air-sealing and other energy saving projects.

Tax credits totaling $20 million would be available to facilities which:

• Produce or distribute renewable energy by using biofuel, biomass, solar power, wind energy, clean coal technologies, waste coal or other alternative energy sources defined under the Alternative Energy Portfolio Standards Act;
• Manufacture or produce products that provide renewable energy; and
• Are used for the research and development of technology to provide alternative or renewable energy sources.

Bond proceeds would be allocated in the amount of $50 million per year over a five-year period for:

• Development of alternative and renewable energy technologies and venture capital;
• Pollution control technology projects to assist existing electric generating units meet enhanced state and federal pollution emission reduction requirements; and
• Clean energy and energy conservation projects.

The now moves to the full Senate for consideration. 

Erickson sponsored the 2004 Alternative Energy Act, a law that will dramatically increase the amount of electricity in Pennsylvania generated from alternative energy sources. The law was updated earlier this year.

"I am pleased that the governor called this Special Session on Energy, and that we are seriously discussing proposals to promote alternative energy use and conservation. It's equally important that this bill is fiscally responsible and doesn't add to energy costs that are already a challenge for many consumers," said Erickson.  "Moving this out of committee is the beginning of a process that I believe will lead to a final product legislators and the governor will support."

CONTACT:

Tom Golden
(717) 787-1350

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