PEA Spurs $89.6MM in Clean Energy Investment in 2022, Creating 771 Local Jobs
Philadelphia, PA — The Philadelphia Energy Authority (PEA) joined City leadership and the Philadelphia Green Capital Corp. to announce the 2022 results of PEA’s Energy Campaign work: PEA spurred $89.6M in clean energy investments and created 771 local jobs.
This progress keeps PEA on track to meet the goals of the Philadelphia Energy Campaign: investing $1 billion in energy efficiency and clean energy projects to create 10,000 jobs over 10 years. Launched in 2016 in partnership with City Council President Darrell Clarke (5th District) and led by PEA, the Campaign has deployed more than $380MM in projects and created 3,275 jobs in total from work in five sectors: municipal, schools, affordable housing, small business, and commercial and industrial.
In prior years, investment was driven by large construction projects at the School District of Philadelphia, the City and others. In 2022, three quarters of the investment and job creation was driven by PEA-led programs including Solarize Philly, Commercial Property Assessed Clean Energy (C-PACE) financing, Water Sewer Line Protection Program, and Built to Last. Also included in the 2022 total are municipal and School District of Philadelphia energy savings projects. The results are a key indicator of strong clean energy market-building in Philadelphia with investment and job creation impacting every neighborhood of the city.
“When I said we would create 10,000 jobs in clean energy by 2026, there was some skepticism about whether we could achieve that,” said City Council President Darrell Clarke. “I am proud to see PEA’s progress towards that goal and the focus on neighborhoods and equity they’ve infused into their programs.”
“PEA’s programs are accelerating the growth of Philadelphia’s clean energy economy alongside real leadership from the School District and City government,” said Emily Schapira, President & CEO of the Philadelphia Energy Authority. “Our model of putting equity first and pairing projects and programs with workforce development opportunities has become nationally recognized. We are right on track to meet our 2026 goal and beyond.”
PEA runs two workforce development programs that serve as pipelines for Solarize Philly and Built to Last: Bright Solar Futures, which trains both high school (through a CTE program at Frankford HS) and adult participants for careers in the solar industry, and Green Retrofit Immersive Training (GRIT), which trains participants for careers in green residential construction. Participants in each program are paid to earn industry-specific credentials and participate in paid on-the-job training before getting connected with clean energy jobs. PEA was part of a successful grant application, led by Philadelphia Works, for a $22.8MM grant from the Economic Development Administration (EDA) for 3-year coordinated workforce development effort that includes significantly scaling PEA’s existing programs.
“The Energy Campaign demonstrates that when we lead with the goal of a robust, equitable clean energy economy, impressive results follow,” said Councilmember Katherine Gilmore Richardson (At-Large). “As Chair of City Council’s Committee on the Environment, I am delighted that Philadelphia is investing in clean energy solutions that are good for the environment and the economy.”
PEA’s 2022 results, nearly $90MM in investment, do not include the new rebates, tax incentives, and competitive grant funding expected to flow to Philadelphia as a result of the Inflation Reduction Act (IRA). PEA is leveraging the resources from the IRA to support and expand current programming, including seeking funding from the $27B Greenhouse Gas Reduction Fund in partnership with its green bank affiliate, Philadelphia Green Capital Corp., and is working alongside the City of Philadelphia’s Office of Sustainability to maximize climate funding to Philadelphia.
“The Inflation Reduction Act is a once-in-a-generation opportunity to invest in clean energy, said Maryrose Myrtetus, Executive Director of the Philadelphia Green Capital Corp, PEA’s green bank affiliate. “By having an existing green bank and an array of existing programs and scoped projects that embody the equity-first approach to clean energy economy-building, Philadelphia is well positioned to bring billions of federal dollars to the city.”
“We are excited to work alongside our partner, PEA, to ensure that Philadelphia continues to build and invest in inclusive, thriving, and resilient neighborhoods,” said Liz Lankenau, Interim Director of the Office of Sustainability. “The Inflation Reduction Act will serve as a catalyst for dramatically scaling the impressive climate work underway in the City.”
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About Philadelphia City Council
Philadelphia City Council is the legislative arm of Philadelphia municipal government. Keep up with Council on phlcouncil.com, and on Twitter, Facebook, Instagram and YouTube.
About Philadelphia Green Capital Corp.
The Philadelphia Green Capital Corp (PGCC) is the green bank affiliate of the Philadelphia Energy Authority. PGCC, a 501(c)3, works to scale and amplify PEA’s work, support the Philadelphia Energy Campaign, and bring new funding and financial products to the region’s clean energy economy that support equitable access to green capital. Learn more at phillygreencapital.org and on LinkedIn.
About Philadelphia Energy Authority
The Philadelphia Energy Authority (PEA) is an independent municipal authority focused on building a robust, equitable clean energy economy for Philadelphia. With the leadership of City Council President Darrell Clarke, PEA runs the Philadelphia Energy Campaign, a $1 billion, 10-year investment in energy efficiency and clean energy projects to create 10,000 jobs. Learn more at www.philaenergy.org.
