In FY 2023-2024, the Pennsylvania Energy Development Authority (PEDA) launched the Energy Accelerator Program (EAP), a green bank for Pennsylvania. PEDA has contracted with the National Energy Improvement Fund (NEIF) to launch the first two financing products under the EAP in spring of 2024, including the Municipal Opportunities for Retrofits and Energy Efficiency (MORE) Program.
PEDA’s MORE Program is a financing program to support local governments to cost-effectively deploy energy efficiency and renewable energy projects. The MORE Program consists of both a MORE Grant and a MORE Loan. Together, they provide local governments the opportunity to achieve effective energy efficiency upgrades and reduce energy costs
Eligible applicants for the MORE program are Pennsylvania local governments that were not eligible for an Energy Efficiency & Conservation Block Grant (EECBG) from the DOE. Eligible local government entities include counties, cities, boroughs, towns, townships, and municipal authorities.
The MORE program included grants, which have now been closed for application.
The MORE loan is a revolving loan fund to help local governments execute energy efficiency projects. The loans must be at least $5,000 and can have repayment terms of up to 15 years or the end of a project's useful life. The MORE loan offers below-market interest rates (which could have been bought down with the now closed MORE grant).
As a part of loan application preparation, applicants must have (and cover the costs of) an ASHRAE Level 2 Energy Audit and an Energy Conservation Measures project design.
Qualifying measures include:
MORE loans have no closing date and will be open for applicants as long as funds are available.
Applicants are strongly encouraged to reach out to NEIF to discuss the process and interest rate options.
| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | Pennsylvania |
| Incentive Type: | Loan Program |
| Web Site: | https://www.pa.gov/agencies/dep/programs-and-services/energy-programs-office/financial-options/energy-accelerator-program/municipal-opportunities-for-retrofits-and-energy-efficiency |
| Administrator: | National Energy Improvement Fund |
| Start Date: | |
| Eligible Renewable/Other Technologies: |
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| Maximum Loan: | No specific maximum published; minimum of $5,000 |
| Loan Term: | Length of up to 15 years or the end of a project's useful life |
| Interest Rate: | Below-market rates; no specific rate published |
| Name: | Alayna Schmeider |
| Organization: | Pennsylvania Energy Development Authority (PE |
| Address: |
DEP-EPO-PEDA RCSOB-3rd Floor Harrisburg PA 17105-8772 |
| Phone: | (717) 783-0908 |
| Email: | aschmeider@pa.gov |
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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