Last DSIRE Review: 06/04/2012
||Local Loan Program
|Eligible Efficiency Technologies:
|Eligible Renewable/Other Technologies:
||Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Photovoltaics, Landfill Gas, Wind, Biomass, Hydroelectric, Fuel Cells, CHP/Cogeneration, Fuel Cells using Renewable Fuels, Other Distributed Generation Technologies
||Commercial, Industrial, (West Penn Power Service Territory Only)
|Amount:||Varies according to project|
|Terms:||Vary according to project|
The West Penn Power Sustainable Energy Fund (WPPSEF) promotes the use of renewable energy and clean energy among commercial, industrial, institutional and residential customers in the West Penn market region. Eligible technologies include solar, wind, low-impact hydro, and sustainable biomass such as closed-loop biomass and biomass gasification, as well as energy efficiency. Clean energy refers to advanced technologies, including landfill gas and fuel cells, which use fossil fuels but have significantly lower emissions and waste than current commercialized technologies and fuels derived from waste. The WPPSEF's recent solicitation for Sustainable Energy Financing Proposals (April 3, 2012 deadline) indicates an intention to focus activities on energy efficiency, commercial and industrial biomass heat and power projects using Pennsylvania feedstocks, sustainable energy manufacturing in Pennsylvania, and community energy events.
Funding for eligible projects may include commercial loans, equity investment, subordinated debt and royalty financing. Commercial loans are available to manufacturers, distributors, retailers and service companies involved in renewable and advanced clean energy technologies, as well as energy efficiency and conservation products and services to end-user companies and community-based organizations. WPPSEF intends to initiate loan programs in conjunction with other agencies and intermediaries to ensure an adequate flow of financing proposals for consideration.
WPPSEF will seek out loan proposals that may not be currently bankable but are acceptable credit risks. For small business lending, the ability to repay a business loan is based primarily on operating cash flow. Also, commercial lending is based on the management experience, ability and character of the management team. WPPSEF will offer term loans to finance energy-efficient equipment, construction, and provide working capital financing as part of a larger request. WPPSEF would charge a below market rate of interest, and secure the loans with available collateral. Further information on funding opportunities can be found on the program web site listed at the top of this page.
The EMS Energy Institute
Pennsylvania State University
University Park, PA 16802-2323
Phone: (814) 865-4802
Fax: (814) 863-7432