Through the making of loans, investments, and grants, the Metropolitan Edison/Penelec Sustainable Energy Fund promotes the development and use of renewable energy and clean energy technologies, energy conservation and efficiency, sustainable energy businesses, and projects that improve the environment in the companies’ service territories.
In 2000, the Foundation received $6.8 million to establish the Penelec Sustainable Energy Fund as the result of the deregulation and subsequent settlement agreements by Pennsylvania Electric Utilities. At the same time, the Metropolitan Edison Company Sustainable Energy Fund was established and is managed by Berks County Community Foundation. The two funds, which share an advisory committee and are commonly referred to in the singular as the Met Ed/Penelec Sustainable Energy Fund, marked their 15th anniversary in 2015. Since inception, the Met-Ed/Penelec SEF has approved 170 grants totaling $3,451,418; 44 loan approvals totaling $24,013,724; and 3 equity investments totaling $1,600,000.