Clean Technology Blogs» sustainable development technology canada

Pennsylvania DEP To Provide $16m In Grants For Clean Energy Projects

cleantech — Thu, 06 May 2010 16:34:25 +0000

The Pennsylvania Department Environmental Protection (DEP) has started accepting applications for $16m funding, which is meant for supporting the development of clean energy projects that will save energy and money for those who develop them, create jobs and improve the environment.

John Hanger, secretary of DEP, said that the state funding was being made available through the Pennsylvania Energy Development Authority (PEDA). The maximum award is $1m per project.

An amount of $2m has been specifically set aside for municipalities, local government authorities, and first responders in Duquesne Light’s electric service territory and immediately adjacent areas to help these entities cope with high energy costs and ensure energy supply for critical operations.

Grants will be announced at the meeting of PEDA board of director on August 27, 2010.

Mr Hanger said: “When we began our effort to make Pennsylvania energy independent, we recognized the need for projects that use advanced technologies to help meet our future energy needs while generating new employment opportunities for Pennsylvanians.”

“Previously, we were far too dependent on foreign oil and far too many of our energy dollars were leaving the state. We needed to look within our borders for innovative ways to conserve and generate energy, and create jobs. PEDA has been a major vehicle in helping us attain those goals.”

PEDA, a competitive grant program that finances innovative, clean energy projects and companies, has invested more than $75m in 147 projects that leveraged an estimated $1.1bn in private investments.

The 25 projects PEDA funded in 2009 will combine to generate and conserve enough energy to power more than 26,000 homes, reducing carbon emissions equivalent to removing more than 17,000 cars from our roadways.

Clean Tech Won’t Provide a Lot of Jobs

cleantech — Tue, 27 Apr 2010 18:10:40 +0000

The advanced “clean” technology sector is so small that it accounts for less than 1% of U.S. nonfarm employment and thus is probably incapable of creating large numbers of jobs, according to McKinsey. Low-tech green work such as replacing old heating equipment could be a better job generator; in fact, service sectors were responsible for the vast majority of new employment from 1995 to 2005, producing 100% of net job growth in rich countries and 85% in emerging economies.

Clean-tech firms gird for funding gap – Globe and Mail

admin — Wed, 28 Oct 2009 20:56:47 +0000

SHAWN McCARTHY

OTTAWA — From Thursday’s Globe and Mail Published on Thursday, Oct. 22, 2009 12:00AM EDT Last updated on Thursday, Oct. 22, 2009 2:36AM EDT

GLOBAL ENERGY REPORTER

Source Globe and Mail

Investors are returning to the clean technology sector but with a sharper eye for risk and more demanding appetite for reward.

But as private investors move back into financing for renewable energy, efficiency and pollution-abatement companies, money is running out at the federal government’s flagship program for financing startup companies whose technologies offer reductions in greenhouse gas emissions.

Ottawa’s Sustainable Development Technology Canada (SDTC) – a linchpin for startups needing development capital – is scheduled to announce a $50-million round of company financings next month, virtually depleting its $350-million climate change/clean air fund.

The sector was hammered by the global economic meltdown as credit dried up and investors became increasingly risk-averse. Financing is now coming back – but with a somewhat chastened approach to the much-hyped technology sector. “There is a renewed interest on the part of financial institutions who had clean tech and carbon finance on their radar prior to the economic downturn,” said Douglas Clarke, a partner in the climate-change practice at Gowling Lafleur Henderson LLP.

Source Globe and Mail