Last DSIRE Review: 06/27/2012
||Local Loan Program
|Eligible Efficiency Technologies:
|Eligible Renewable/Other Technologies:
||Passive Solar Space Heat, Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Photovoltaics, Landfill Gas, Wind, Biomass, Hydroelectric, Fuel Cells, Municipal Solid Waste, CHP/Cogeneration, Fuel Cells using Renewable Fuels
||Commercial, Industrial, Nonprofit, Schools, Local Government, Metropolitan Edison Territory of FirstEnergy
|Amount:||Varies according to project|
|Maximum Incentive:||$500,000 (generally)|
|Terms:||Vary according to project|
FirstEnergy (formerly GPU) established the Metropolitan Edison Company Sustainable Energy Fund in 2000 with an initial contribution of $5.7 million. The fund later received an additional contribution of $2.5 million as a result of the merger between GPU Energy and FirstEnergy, bringing the total to $8.2 million. The fund is administered by the Berks County Community Foundation. The majority of funding available from the Metropolitan Edison Company SEF takes the form of investments made in businesses pursuing one or more of the fund's objectives. These funds typically will be distributed as loans or equity investments. The program is open to any individual, organization, governmental entity, or corporation.
The fund is designed to promote:
- The development and use of renewable energy and clean-energy technologies;
- Energy conservation and efficiency;
- Sustainable-energy businesses; and
- Projects that improve the environment in the companies' service territories, as defined by their relationship to the companies' transmission and distribution facilities.
As identified on the program web site, specific types of projects eligible for loans may include renewable electricity generation projects for on-site use or grid supply; projects involving the development of a sustainable energy technology (e.g., solar panel manufacturing); businesses that use renewable energy in the operation of a business; and businesses that enhance energy efficiency and conservation.
Examples of projects funded in the past are available on the program web site, along with details of the investment guidelines.