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.
Since inception, the Met-Ed/Penelec SEF has approved 213 grants totaling $4,139,373; 47 loans totaling $24,488,724; and 3 equity investments totaling $1,600,000.
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.