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Pennsylvania Energy Independence Fund Receives $650 Million for Renewable Energy

The prospects for renewable energy in Pennsylvania received a significant boost on July 9, when Democrat Governor Edward Rendell signed into law a Bill establishing a $650 million energy fund to support the sector.

The move follows an earlier commitment by Rendell to make the state a leader in pursuing energy independence, by creating jobs in the renewable energy sector and reducing dependence on foreign oil.

Speaking about the potentially far-reaching impact of the fund, Governor Rendell said:

“This new investment fund will strategically target new resources to leverage as much as $3.5 billion in private investment and create at least 13,000 new, good-paying jobs in an industry that is sure to be to the 21st century what information technology and biosciences were to the later 20th century.”

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