House Energy Committee hears testimony on competitive financing opportunities, efficiency, and clean energy projects through PEDA
Rep. Elizabeth Fiedler March 24, 2026 | 4:42 PM
HARRISBURG, March 24 – Continuing its efforts to ensure the commonwealth can reliably meet rising energy demand, the House Energy Committee convened an informational meeting on Monday on the Pennsylvania Energy Development Authority’s role in building out new energy generation resources.
State Rep. Elizabeth Fiedler, D-Phila., chair of the House Energy Committee, said Pennsylvania’s rising energy demand stems from the rapid proliferation of data centers that support artificial intelligence and cloud computing, the increasing electrification of vehicles and household appliances, and growth in the advanced manufacturing sector. To keep pace and prevent energy bills from rising further, the state must add new generation projects to the energy mix and adopt efficiency measures.
Established in 1982, PEDA is poised to accelerate the deployment of clean and affordable energy projects across the state. However, legislative action is needed to unlock PEDA’s full potential through green banking. Green banks leverage limited public capital to attract private investment, multiplying the impact of each taxpayer dollar. NCEL reports that green banks across the country secured $9 billion in overall green investment using only $2 billion in public funds from 2013 to 2023.
In her testimony before the committee, Abbey Cadden, executive director of PEDA, identified legislative recommendations to modernize PEDA’s authorizing statute, Act 280. Cadden’s recommendations would expand the types of projects PEDA can finance as well as diversify available financing tools for years to come. For example, PEDA is currently unable to finance grid stabilization projects such as storage and resiliency upgrades, but if authorized it could help bring these much-needed projects to fruition. Cadden also called for state investment in PEDA, which last received funding from the Commonwealth of Pennsylvania in 2010 and continues to successfully administer a variety of highly successful grant and loan programs.
In January, Fiedler circulated a co-sponsorship memo describing legislation to modernize PEDA. Currently, 16 states have established energy financing institutions and green banks including Connecticut, New York, Colorado, Maryland, Nevada, and South Carolina.
“I’ve had the honor of serving on the PEDA Board of Directors for several years, and I am pleased by the success of our recent projects,” said Fiedler. “In this moment, when energy bills are sky high due to rising demand, we can’t allow an outdated statute to prevent PEDA from taking on projects that increase our energy supply, and lower energy costs.”