READING, PA (January 8, 2019) – The Met-Ed / Penelec Sustainable Energy Fund will distribute grants throughout the Pennsylvania service territories of the Met-Ed and Penelec energy companies.
The fund will distribute grants this year for projects and programs that support the development and use of clean energy technologies and energy efficiency. Grants will range from $2,000 to $50,000 depending on the scope of the projects.
Previously, grant applications for the Met-Ed / Penelec Sustainable Energy Fund were accepted yearlong on a rolling basis. Note that these are no longer rolling grant opportunities. Applications must be completed online by the stated deadlines to be considered.
The mission of the Met-Ed / Penelec Sustainable Energy Fund is to provide grants, loans, and equity investments to promote:
- the development and use of renewable energy and clean energy technologies.
- energy conservation and efficiency.
- sustainable energy businesses.
- projects that improve the environment in the companies’ service territories, as defined by their relationship to the companies’ transmission and distribution facilities.
While the fund primarily provides grants, it may also consider making investments, or loans, from time to time. Program-related investments provide capital that borrowers must pay back. The benefit of a program-related investment is the ability to receive a larger amount of capital for a project than what is available through the grant program. Program-related investments range from $25,000 to $500,000.
Eligible applicants must be located and/or serve residents within the territories of the Met-Ed and Penelec electric companies in Pennsylvania. Grant funding is prioritized for nonprofit entities. However, commercial or industrial organizations may apply. Individuals/residents are not eligible to apply.
Since inception, the Met-Ed/Penelec Sustainable Energy Fund has approved 213 grants totaling $4,139,373; 47 loans totaling $24,488,724; and 3 equity investments totaling $1,600,000.
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 distribute money in the form of grants and 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 known in the singular as the Met-Ed / Penelec Sustainable Energy Fund.