Overview of the Sustainable Energy Funds

Met-Ed / Penelec Sustainable Energy Fund

The Sustainable Energy Funds were created as a result of electric utility deregulation and subsequent settlement agreements by Pennsylvania Electric Utilities.

The funds are designed to promote the development of sustainable and renewable energy programs and clean-air technologies on both a regional and statewide basis.

The funds have provided more than $20 million in loans and $1.8 million in grants to more than 100 projects.

A Statewide Sustainable Energy Board was formed in 1999 to enhance communications among the four funds and state agencies. The board includes representatives from the Commission; the Department of Environmental Protection; the Department of Community and Economic Development; the Office of Consumer Advocate; the Pennsylvania Environmental Council; and each regional board.

Two of those funds, the Metropolitan Edison Company Sustainable Energy Fund of Berks County Community Foundation and the Pennsylvania Electric Company Sustainable Energy Fund of the Community Foundation for the Alleghenies, began distributing money in the form of grants, loans, and equity investments for a variety of projects within the territories originally served by the two electric companies. The two funds share an advisory committee and are commonly referred to in the singular as the Met Ed / Penelec Sustainable Energy Fund.

Download their 15th anniversary report below.

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15th Anniversary Report of the Met-Ed / Penelec Sustainable Energy Fund 1.29 MB 23 downloads

Download the 15th Anniversary Report of the Met-Ed / Penelec Sustainable Energy Fund. ...

The Pennsylvania Electric Company Sustainable Energy Fund

Started in 2000, the Penelec Sustainable Energy Fund distributes loans and grants, and makes investments to eligible organizations that are located in or serve FirstEnergy’s Penelec service territory. It also participates with other sustainable energy funds in projects throughout Pennsylvania.

In 2011, the Fund was particularly active:

We helped to support a solar thermal energy company in Lawrence County.
We financed a waste heat recovery project in Bradford County.
We invested in an energy efficiency company that seeks to help nonprofits and is now working on energy efficiency projects with both the Johnstown Area Heritage Association and St. Benedict’s Parish in Geistown, and an energy efficiency project at the Shawnee Market in Schellsburg in Bedford County.
We made a grant to the Disaster’s Edge Environmental Center at the St. Michael’s Flood Site for a geothermal project that will save Cambria County taxpayers up to 30% of its electric bill for the center.
We supported a comprehensive energy efficiency plan that engages all 21 buildings and all 13,000 students in the Erie School District.
We added support to Johnstown’s Stone Bridge project with a grant to help upgrade the light being installed to high efficiency, low maintenance LED lighting.

Metropolitan Edison Company Sustainable Energy Fund

First Energy established the Metropolitan Edison Company Sustainable Energy Fund (Met Ed Region) within Berks County Community Foundation in 2000 with an initial contribution of $5,700,000.

While the fund is a component fund of Berks County Community Foundation, it is dedicated to serving the entire Met Ed service territory. A companion fund was established to serve the company’s Penelec service territory.

A limited number of grants are available each year for specific purposes. The majority of funding available from the Metropolitan Edison Company Sustainable Energy Fund is in the form of investments made in businesses that are pursuing one or more of the fund’s purposes.

Met-Ed / Penelec Sustainable Energy Fund territory


OUR COMMUNITY FOUNDATIONS

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Berks County Community Foundation
Community Foundation for the Alleghenies