| Implementing Sector | Local |
|---|---|
| Category | Financial Incentive |
| State | Pennsylvania |
| Incentive Type | Loan Program |
| Web Site | http://www.metedpenelecsef.org/index.php?option=com_content&view=article&id=86 |
| Administrator | Berks County Community Foundation |
| Utilities | Metropolitan Edison Co |
| Eligible Renewable/Other Technologies | Solar - Passive, Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Solar Photovoltaics, Wind (All), Biomass, Hydroelectric, Municipal Solid Waste, Combined Heat & Power, Fuel Cells using Non-Renewable Fuels, Landfill Gas, Wind (Small), Fuel Cells using Renewable Fuels |
| Eligible Efficiency Technologies | Yes; specific technologies not identified |
| Applicable Sectors | Commercial, Industrial, Local Government, Nonprofit, Schools, State Government, Federal Government, Institutional |
| Maximum Loan | Met-Ed / Penelec Sustainable Energy Fund through two distinct funding opportunities totaling $470,000 for projects in Pennsylvania. Met-Ed / Penelec Sustainable Energy Fund: up to $240,000 to support an applied research and development project in the areas served by the Met-Ed and Penelec electric companies. |
| Loan Term | 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:
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.
To apply to the fund, applicants should present a Letter of Intent explaining the core technology, management team, market opportunities, and company operations for further evaluation by Community Foundation staffs.
Examples of projects funded in the past are available on the program web site, along with details of the investment guidelines.
