With energy prices rising due to increased demand from electrification — and with Pennsylvania families struggling to keep up with higher utility bills — it is more important than ever for the Commonwealth to develop new energy sources, strengthen grid reliability, and invest in energy efficiency.
 

Fortunately, Pennsylvania already has a public financing authority well-positioned to help meet this moment: the Pennsylvania Energy Development Authority (PEDA). Through strategic lending, revolving funds, and grants, PEDA can deploy public capital to support critical energy projects across the Commonwealth.
 

States including South Carolina, Nevada, Indiana, and Maine have successfully utilized publicly administered energy financing entities to attract and leverage substantially larger private investments, multiplying the impact of each taxpayer dollar and accelerating energy development. Since, PEDA was created in 1982, its enabling legislation has not kept pace with the Commonwealth’s modern energy and economic needs. As currently structured, PEDA lacks the updated authority and flexibility necessary to maximize its potential as an energy accelerator, economic development engine, and job creator.
 

This legislation would modernize the Administrative Code to ensure PEDA has the tools, mission, and resources needed to strategically utilize both public and private capital to expand energy production, lower costs for consumers, and support economic growth throughout Pennsylvania.
 

Specifically, this legislation would allow Pennsylvania to:
 

JUMP-START ENERGY PRODUCTION
Strengthen and expand Pennsylvania’s role as a national energy leader by financing new and innovative energy projects.
 

REDUCE UTILITY BILLS
Support energy generation and efficiency projects that can help stabilize and lower energy costs for households and small businesses.
 

CREATE GOOD-PAYING JOBS
Partner with labor unions, workforce development programs, and industry to prepare Pennsylvanians for family-sustaining energy jobs of the future.
 

STRENGTHEN ENERGY INDEPENDENCE
Invest in local energy production and infrastructure to better protect consumers and businesses from market volatility and global instability.
 

This legislation creates the framework for Pennsylvania to make bold investments in its energy future while supporting consumers, workers, and communities across the Commonwealth.