The Commonwealth Financing Authority Tuesday approved a $1.1 million loan for the installation of a 2.0-megawatt ground-mounted solar array at Mountain View Elementary School in the Tuscarora School District located in Mercersburg, Franklin County.
The solar array project will generate 2.65 million kilowatt hours of electricity annually, meeting more than 50 percent of the elementary school’s demand.
The school district has the option to purchase the array outright at the end of its 25-year power-purchasing agreement with RER Energy Group.
Last November the Wolf Administration made $30 million available for loans for the installation of solar energy generation equipment. This is the first project approved under this program.
New Applications/Grants
Applications are still being accepted for loans under this program and by the end of this week the program should include grants.
Eligible projects include facilities to generate, distribute, or store solar energy, as well as manufacturing or assembly facilities for solar panels or other solar equipment. Solar photovoltaic (electric) technologies are eligible. Projects must have a useful life of at least twenty-two years.
Applications are being accepted on a rolling basis and must be received 60 days before the next scheduled CBF Board meeting. That means the upcoming deadlines are November 24; January 20; March 22; May 18; and July 20.
Click Here for all the details and new information on grants. Questions should be directed to DCED’s Center for Business Financing at 717-787-6245.
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