Sustainable Energy Fund Launches New Program to Acquire $20 million in Environmental Attributes

For Immediate Release:

Sustainable Energy Fund Introduces New Program To Spur Small Scale Renewable Energy Generation Development.

ALLENTOWN, PA. -Sustainable Energy Fund (SEF) today announced its planned acquisition of more than $20 million in environmental attributes to support the development of small scale renewable energy generation resources such as solar, wind or biomass.

“SEF has been monitoring Pennsylvania’s renewable energy credit market and is growing concerned that small generation resources are at a disadvantage in favor of large utility scale projects,” stated Jennifer Hopkins, President, SEF.    “PECO recently issued an RFP for purchase of solar RECs that required a minimum of 300 RECs be produce from a single system. The average residential system produces 4 RECs annually.”    She continued “The economics and motivation are simple. Large utilities like PPL do not generate transmission and distribution revenues from the average homeowner or small business that generated their own electricity behind the meter.”

The Pennsylvania Public Utility Commission recently issued a press release seeking comment on addressing barriers to new solar development in the Commonwealth of Pennsylvania. Renewable Energy Credits are one type of Environmental Attribute often used by Pennsylvania’s electric generation suppliers and electric distribution companies to comply with Pennsylvania’s Alternative Energy Portfolio Standard that requires an annually increasing percentage of electricity generation to come from renewable resources such as wind or solar. SEF’s new program seeks to acquire the rights to these credits as well as other attributes such as carbon credits.

“This new program is very exciting as it utilizes SEF’s unique position as a 501(c)(3) nonprofit, financial expertise and knowledge of renewable energy markets to support the development of residential and small scale commercial renewable generation,” said Jennifer Hopkins. She continued “We are constantly working to develop new programs that support the development of sustainable energy.”

Informational meetings on SEF’s new program dubbed “Green to Green” will be held on January 6, 7 and 8 in Valley Forge, Harrisburg and the Lehigh Valley respectively. To register, please visit www.thesef.com and click incentives and financing.
Hopkins closed by stating, “The acquisition of these environmental attributes by SEF will not eliminate the unfair practices by the utilities but will help residential and small commercial generators realize value from their investment.”

 

About Sustainable Energy Fund

SEF is a private 501(c)(3) nonprofit that was create as the result of a settlement approved by the Pennsylvania Public Utility Commission during electric deregulation proceedings. The organization seeks out, focuses on and invests in economically viable, energy related businesses, projects, and educational initiatives that create innovative, market-based technologies and solutions to enable environmentally sound sustainable energy use in the Commonwealth of Pennsylvania. SEF assists all types of commercial entities to reduce the consumption of energy from non sustainable sources. These reductions are achieved by reducing or removing financial and/or educational barriers that prevent these organizations from generating energy from renewable resources and implementing improvements in efficiency of energy utilization as well as reducing energy consumption through behavioral change.

For more information on Sustainable Energy Fund, visit www.thesef.org