PITTSBURGH, March 2 /PRNewswire-USNewswire/ -- Governor Edward G. Rendell today presented details of his innovative Energy Independence Strategy to save consumers $10 billion over the next 10 years and promote Pennsylvania's energy independence by rapidly expanding the commonwealth's clean energy business sector during a keynote speech to the Pittsburgh Technology Council.
"We need to ensure that Pennsylvania businesses and residents have affordable, secure sources of electric power and fuels so that we can guarantee a robust economy and a high quality of life in this great state," Governor Rendell said. "My Energy Independence Strategy will save energy consumers money, increase the amount of clean fuel and power produced in Pennsylvania and make Pennsylvania the destination of choice for clean energy investments."
Businesses in Pennsylvania need stable and affordable electricity rates in order to survive and compete, and the Governor plans to meet those needs by fueling the expansion of Pennsylvania's energy-related companies by offering ready access to venture capital, working capital, loans and limited grants.
"The clean energy sector is one of the fastest growing parts of the U.S. economy and I am determined to put our state in the forefront of this coming economic renaissance," Governor Rendell said. "Making strategic investments through the new Energy Independence Fund we will leverage private capital to generate $3.5 billion in new investment and create 13,000 new jobs."
Since 1983, the Pittsburgh Technology Council has been the principal point of connection for technology companies in southwestern Pennsylvania, with industry clusters from the information technology, biomedical, advanced manufacturing/materials and environmental technology sectors.
Council membership currently includes nearly 1,400 companies in the 13- county southwestern Pennsylvania region, making it one of the largest regional trade associations of its kind in the nation. Membership includes entrepreneurs launching new ideas as well as established leaders in technology-driven businesses.
Governor Rendell's Energy Independence Strategy will invest $850 million to cut consumer energy costs by $10 billion over the next decade, stabilize electricity rates for businesses, significantly expand Pennsylvania's alternative fuel and clean energy industries and reduce dependence on foreign oil.
The Energy Independence Strategy contains important energy conservation and green building initiatives, both of which have been highlights of Pittsburgh's emerging green economy. The strategy will leverage private-sector expertise to help Pennsylvania companies cut energy costs by using state-of- the-art conservation technology. Energy consumers at work and at home will save money because utilities will be required to invest in conservation measures before more costly additional power or power plants.
"By supporting conservation and the production of renewable energy sources, my Energy Independence Strategy will save consumers money by lowering demand for electricity from traditional power plants during periods of peak demand and avoiding the need to build costly new power plants or long-distance transmission lines to meet our growing energy needs," Governor Rendell said.
The strategy also calls for up to $500 million in grants and low-interest loans for projects involving clean energy business sites or business sites incorporating Leadership in Energy and Environmental Design-standard buildings. Funds will be used to renovate existing buildings and industrial sites, as well as for acquisition, construction and improvement of regional energy projects.
Pittsburgh is a national leader in LEED-certified buildings, with 17 buildings comprising almost 2.7 million square feet. Its David L. Lawrence Convention Center was the world's first certified green convention center. Among states, Pennsylvania is second only to California in energy efficiency with more than three dozen buildings LEED-certified by the U.S. Green Building Council.
"Pittsburgh has taken a national leadership position in green building practices, and it's base of universities and high-tech industries will be critical to the statewide success of the Energy Independence Strategy," Governor Rendell said.
The City of Pittsburgh is also at the cutting edge of biofuels production and use. The city fleet is being converted to biodiesel with the assistance of a $303,675 state grant to cover the incremental cost of purchasing almost 1.2 million gallons of biodiesel and to provide biodiesel storage tanks at city refueling sites. Heinz Field, home of the renowned Pittsburgh Steelers, will provide much of the waste vegetable oil used to produce biodiesel for the city fleet.
Governor Rendell's proposed Energy Independence Strategy mandates the use of biofuels and ethanol in all transportation fuels in Pennsylvania, with a goal of 1 billion gallons of in-state production by 2017, which will equal total anticipated annual oil imports to Pennsylvania from the Persian Gulf.
The Governor's proposal also includes $200 million for rebates to homeowners who replace inefficient home cooling appliances, and the Pennsylvania Sunshine Solar Initiative that will create incentives for solar manufacturers to establish operations in Pennsylvania.
The solar initiative offers rebates to cover up to 50 percent of the cost of new solar systems for homeowners and small businesses. At current electricity rates, the average household could save about $600 a year with a 5 kW system, or solar panels that generate more than half of the electricity consumed in the home.
Pennsylvania Sunshine will also help the commonwealth meet the aggressive clean power goals set by Governor Rendell and his partners in the General Assembly in the Alternative Energy Portfolio Standard (AEPS). The Pennsylvania AEPS contains one of the most ambitious standards for solar power in the nation, requiring that solar energy generate 0.5 percent of all electricity in the commonwealth, an equivalent to powering almost 80,000 typical homes per year in Pennsylvania.
CONTACT: Mark Shade of the Pennsylvania Office of the Governor, +1-717-783-1116.
Pennsylvania Office of the Governor
