Friday, December 19, 2008
King of Prussia BID
HARRISBURG–Small businesses that invest in energy efficiency and cutting wasteful pollution will garner long-term advantages by reducing expenses and protecting themselves against spiking energy costs in the future, according to Governor Edward G. Rendell.
The Small Business Advantage Grant Program provides a 50 percent match of up to $7,500 for equipment or processes that reduce energy use, promote pollution prevention and increase profitability. The program has invested almost $4.9 million in 928 businesses across the state since Governor Rendell launched it in 2004.
Small businesses will soon be able to benefit from energy conservation and clean energy production legislation signed into law this year by the Governor. Energy conservation programs created by the new legislation will reduce overall energy consumption and peak demand-or periods when energy prices are highest-to help save consumers more than $500 million over the next five years and more than $800 million annually after 2013.
The law also requires every home and business to be equipped with a “smart meter” over the next 15 years and have access to time-sensitive pricing plans. A smart meter gives every consumer the power to use energy at times when rates are cheapest and cut consumption when rates are higher.
The state’s new $650 million Alternative Energy Investment Fund will also include $92.5 million to help save money on small businesses’ and families’ energy bills by supporting investments in energy conservation and efficiency.
“Pennsylvania is investing in its future by supporting businesses that purchase energy-efficient equipment to drive down their energy consumption and generate clean energy that meets their demands and yields excess power that can be sold back to the grid,” said acting Environmental Protection Secretary John Hanger. “By reducing energy consumption, we conserve our natural resources, reduce our dependence on imported fossil fuels, and prevent pollution. Investing in energy efficiency is investing in a clean and prosperous future.”
Small businesses in Pennsylvania can find other sources of financial and technical assistance through the Department of Environmental Protection’s Small Business Assistance Program. The Pollution Prevention Assistance Account provides loans of up to $100,000 at 2 percent interest for projects that reduce waste, pollution or energy use. Environmental assistance services are available through the Small Business Ombudsman and its partner organizations.
For more information on these and other small business programs, visit http://www.depweb.state.pa.us/, keyword: Grant and Loan Programs.
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