The Biden-Harris Administration has announced that the Hope Enterprise Corporation in Arkansas is set to receive over $62 million to deliver residential solar projects, aimed at lowering energy costs and advancing environmental justice. The grant is part of the Greenhouse Gas Reduction Fund, a historic initiative created under President Biden's Inflation Reduction Act.
EPA Administrator Michael S. Regan emphasized the significance of this investment, stating, "Today we're delivering on President Biden's promise that no community is left behind by investing $7 billion in solar energy projects for over 900,000 households in low-income and disadvantaged communities."
Hope Enterprise Corporation (HEC) in Arkansas will utilize the funds to implement various strategies to provide affordable and resilient solar energy access to low-income and disadvantaged households. These strategies include developing a residential rooftop solar leasing market and focusing on lowering energy costs for low-income tenant households in multifamily buildings.
The Solar for All program, which awarded the grant to HEC, aligns with President Biden's Justice40 Initiative, ensuring that benefits from federal investments in climate and clean energy flow to marginalized communities. The program aims to achieve a carbon pollution-free power sector by 2035 and a net-zero emissions economy by 2050.
Additionally, the Solar for All program is expected to generate significant savings on electric bills for overburdened households and reduce carbon emissions. It will also create an estimated 200,000 jobs across the country, promoting equitable pathways to clean energy jobs for communities in need.
The selection of HEC in Arkansas is part of a larger initiative that includes 60 recipients nationwide, all committed to reducing climate and air pollution, benefiting low-income communities, and mobilizing financing for affordable solar energy deployment. The selected applicants will undergo a comprehensive review process before finalizing their projects in the summer of 2024.
Furthermore, EPA will host informational webinars to ensure public transparency and engagement with the Solar for All program. Interested parties can register for the upcoming webinar scheduled for April 29, 2024, to learn more about the initiative and its impact on communities nationwide.
