Next Thursday, May 19, Pennsylvania’s Independent Regulatory Review Commission (the “IRRC”) will consider significant amendments to the State’s Alternative Energy Portfolio Standards Act of 2004 (the “Act”). The amendments largely pertain to net metering, interconnection, and portfolio standard compliance provisions, as described in a final rulemaking issued by the PA Public Utility Commission (the “Commission”) on February 11, 2016 (passed by a vote of 3-2). The Commission primarily justifies these revisions as required to ensure default electric service rates are provided at the least cost to customers. These same changes, however, are opposed by renewable energy industry supporters on the basis they are unjustified by data and likely to decrease renewable energy use across the State.
Whether you are considering installing solar panels on your residential home, a wind turbine at your commercial manufacturing facility, or a biodigester on your farm, one of the biggest hurdles is often developing a plan for financing your renewable energy project. An attorney, accountant, or specialized consultant can help you develop this plan. To jump-start planning, this post outlines three major financial resources available for renewable energy projects in Pennsylvania, including: tax incentives, loan programs, and grant programs.