– EPA announced selections for $20 billion in grant awards under the Greenhouse Gas Reduction Fund
– Selections will create a national clean financing network for clean energy and climate solutions
– Selected applicants will drive significant impact toward reducing climate and air pollution, mobilizing private capital, and benefiting low-income and disadvantaged communities
The U.S. Environmental Protection Agency announced $20 billion in grant awards under the Greenhouse Gas Reduction Fund (GGRF), created as part of President Biden’s Investing in America agenda. The awards, part of the historic $27 billion fund, include three selections under the $14 billion National Clean Investment Fund and five under the $6 billion Clean Communities Investment Accelerator. These selections will create a national clean financing network for clean energy and climate solutions, benefiting communities across the country, especially low-income and disadvantaged areas.
Vice President Kamala Harris and EPA Administrator Michael S. Regan announced the grant selections in Charlotte, North Carolina, including programs that focus on financing energy-efficient, affordable homes for low-income families. The selected applicants have committed to reducing or avoiding up to 40 million metric tons of climate pollution per year and mobilizing private capital to further these initiatives.
The selected applicants, including the Climate United Fund, Coalition for Green Capital, and Power Forward Communities, will focus on investing in low-income and disadvantaged communities. Additionally, five other applicants under the Clean Communities Investment Accelerator will provide funding and technical assistance to community lenders for clean energy projects. The EPA anticipates finalizing awards by July 2024, with projects funded shortly after.