| Implementing Sector | State |
|---|---|
| Category | Financial Incentive |
| State | Pennsylvania |
| Incentive Type | Loan Program |
| Web Site | http://www.newpa.com/find-and-apply-for-funding/funding-and-program-finder/high-performance-building-program-hpb |
| Administrator | Department of Community and Economic Development |
| Funding Source | Alternative Energy Investment Fund (state issued bonds) |
| Budget | $25 million |
| Start Date | 04/01/2009 |
| Expiration Date | None |
| Eligible Renewable/Other Technologies | Solar - Passive, Solar Water Heat, Solar Space Heat, Solar Photovoltaics, Wind (All), Biomass, Geothermal Heat Pumps, Daylighting |
| Eligible Efficiency Technologies | Comprehensive Measures/Whole Building |
| Applicable Sectors | Commercial, Residential |
| Maximum Loan |
Residential loans/loan guarantees: $100,000 Commercial loans/loan guarantees: $2 million Grants: Lesser of 10% of project costs or $500,000 |
| Loan Term | Loans at a fixed interest rate (updated quarterly) for up to 10 years. Loans may be amortized over a period of up to 25 years. Minimum green building certification requirements apply. |
In July 2008, Pennsylvania enacted a broad $650 million alternative energy bill designed to provide support for a variety of renewable energy and energy efficiency technologies. Included in this legislation was a provision authorizing the creation of a $25 million grant and loan program for high performance buildings. The program is jointly administered by the Department of Community and Economic Development (DCED) and the Department of Environmental Protection (DEP), under the direction of Commonwealth Finance Authority (CFA). Program guidelines were issued in April 2009 and revised in November 2009. Incentives are available to both in-state small businesses (100 or fewer total employees) and individuals for the construction or major renovation of homes or commercial buildings. Homes must be primary residences in order to be eligible.
The program will offer support for green buildings in the form of loans, grants and loan guarantees (i.e., grants to be used in the event of a financing default). In order to be eligible for incentives, new construction and major renovation projects must achieve the applicable Gold certification under USGBC LEED or the National Green Building Standard, or at least 3 Globes under the GBI Green Globes system. Buildings must also meet additional requirements in certain categories. Funds may be used for the following project costs:
The individual support mechanisms are described in more detail below. For all types of support, there is a general requirement that applicants provide matching funds equivalent to the funding offered under the program.
Loans
Loans are available at a fixed interest rate, which is updated quarterly, and must be repaid within 10 years. The maximum loan is $100,000 for residential projects and $2 million for small business projects. Loans may be amortized over a period of up to 25 years.
Grants
Grants are available for up to 10% of eligible project costs or $500,000. Applicants may request both a grant and a loan, but not for the same project.
Loan Guarantees
Loan guarantees will take the form of a grant that may be used in the event of financing default on the part of the applicant, up to $100,000 for residential projects and $2 million for small business projects. Loan guarantees have a term of no more than 5 years.
Visit the program web site and review the funding guidelines for additional program details and application procedures.
| Name | Special Session H.B. 1 |
|---|---|
| Date Enacted | 07/09/2008 |
