Success! Clean Energy Fund Passed at $40 Million

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CleanTech Alliance members secured a victory for clean energy in Washington State. The State Legislature passed a $40 million Clean Energy Fund extension as part of the passed Capital Budget.

“With the passing of the Clean Energy Fund Extension, the Legislature acknowledges the importance of clean energy investments for the future of Washington State,” said Brad Boswell of Boswell Consulting, the CleanTech Alliance’s retained lobbying firm. “There is no doubt that the Clean Energy Fund extension would not have been approved without the ongoing efforts of CleanTech Alliance members and the industry sector as a whole.”

The Clean Energy Fund is designed to expand clean energy projects and technologies statewide in a variety of categories. The extension commits the following budget allocations:

  • $10,000,000 is provided to create a revolving loan fund to support the widespread use of proven energy efficiency and renewable energy technologies now inhibited by lack of access to capital.
     
  • $6,600,000 is provided solely for credit enhancements of advanced solar and renewable energy manufacturing within Washington State.
     
  • $13,000,000 is provided solely for grants to advance clean and renewable energy technologies and advance transmission and distribution control system improvements for increased reliability, resiliency and enabling integration of distributed and renewable resources and technology by public and private electrical utilities that serve retail customers in the state.
     
  • $10,000,000 is provided solely for grants to match federal funds or other non-state funding sources used to research, develop and demonstrate clean energy technologies.
     
  • $400,000 is provided solely for capital funding of competitively selected wood energy conversion projects at public facilities.

“Clean Energy Fund projects drive positive change to Washington State, making our grid infrastructure more resilient, our buildings more efficient and our research facilities more competitive,” said J. Thomas Ranken, President and CEO of the CleanTech Alliance. “This extension will further Washington State’s position as a hub for clean technologies and act as a continued catalyst to spur innovation, advance our economy and create jobs.”

Read the Clean Energy Fund language in the final Capital Budget (starting on page13).