Renewable Energy Program (REP) – Geothermal and Wind Projects

Overview

The Renewable Energy Program (REP) provides financial assistance in the forms of grant and loan funds to promote the use of alternative energy in Pennsylvania. The program is administered jointly by the Department of Community and Economic Development (DCED) and the Department of Environmental Protection (DEP) under the direction of the Commonwealth Financing Authority (CFA).

Uses

Activities to assist with geothermal technologies and wind energy projects.

Funding

Loans

Loans for component manufacturers of renewable energy generation equipment up to $40,000 for every new job created. Loans for geothermal systems or wind energy generation or distribution projects shall not exceed $5 million or 50 percent of the total project cost, whichever is less.

Grants

Grants for component manufacturers of renewable energy generation equipment up to $5,000 for every new job created. Grants for wind energy generation or distribution projects up to $1 million, or 30 percent of the total project cost, whichever is less. Grants for planning and feasibility studies up to 50 percent of the total cost of the planning project or $175,000, whichever is less.

Guarantees

Grants shall not exceed $5 million and have a term of not more than five years. In the event of a default, the grant will pay up to 75 percent of the deficiency.

Eligibility

A business; an economic development organization; an individual (geothermal only); or a political subdivision, includes municipalities, counties and school districts.

Terms

There is a matching investment requirement of at least $1 for every $1 of program funds awarded. There is a $100 non-refundable application fee due at the time of submission made payable to the CFA. There is a 1% commitment fee on all approved loans.

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