Michael S. Regan 16th Administrator, United States Environmental Protection Agency | Official Website
On the second anniversary of the Inflation Reduction Act, award recipients can now begin accessing funds to mobilize financing for thousands of climate and clean energy projects.
WASHINGTON - Today, Aug. 16, on the second anniversary of the signing of the Inflation Reduction Act, the U.S. Environmental Protection Agency announced that it has obligated $27 billion in grants under three competitions to Greenhouse Gas Reduction Fund recipients as part of the Biden-Harris Administration Investing in America agenda. Together, the grant recipients receiving funds under EPA’s $14 billion National Clean Investment Fund (NCIF), the $6 billion Clean Communities Investment Accelerator (CCIA), and the $7 billion Solar for All program will create a national financing network for clean energy and climate solutions across the country. Since they were selected in April, recipients have worked directly with EPA to fulfill federal requirements and revise their work plans in order to receive their grants. With funds now accessible to the recipients, programs that give communities access to resources and investment capital to build cleaner, more sustainable economies can begin being implemented.
EPA’s historic $27 billion Greenhouse Gas Reduction Fund has been made possible by President Biden and Vice President Harris’ Inflation Reduction Act, which is the largest climate investment in history. Since the legislation was signed into law on August 16, 2022, EPA has obligated more than $28.8 billion in Inflation Reduction Act funding in total, including the Greenhouse Gas Reduction Fund, and is on track to obligate nearly $38.3 billion in total from this historic investment by the end of the calendar year. EPA has ensured these federal investments deliver on the law’s promise to dramatically reduce emissions, build a clean economy, lower energy costs for American households and businesses, create good-paying jobs, and advance environmental justice.
“With climate impacts increasingly impacting all Americans, and especially those in communities that have been historically left behind,” said EPA Administrator Michael S. Regan. “Two years after he signed the law, President Biden is delivering the full $27 billion that he secured in this legislation. American families will soon feel the benefits in lower energy costs and revitalized communities while the United States leads the clean energy economy of the future.”
With funds now in hand, NCIF recipients can begin delivering accessible, affordable financing for clean technology projects in communities across the country. CCIA recipients can begin providing funding and technical assistance to community lenders working in low-income and disadvantaged communities. Solar for All recipients can soon begin expanding existing solar programs for low-income and disadvantaged communities and launching new ones which will collectively deliver residential solar to over 900,000 low-income households nationwide. Solar for All recipients will spend several months working with EPA to finalize their program work plans and budgets before implementing their programs starting early 2025.
Together, NCIF, CCIA, and Solar for All programs will advance Biden-Harris Administration’s Justice40 InitiativeExit EPA’s website which aims to ensure 40% of overall benefits from certain climate-related federal investments flow to disadvantaged communities marginalized by underinvestment or overburdened by pollution. Solar for All recipients will invest 100% of program funds into low-income communities while NCIF and CCIA recipients dedicate over $14 billion towards these areas — including over $4 billion allocated specifically for rural regions as well as almost $1.5 billion reserved specifically toward Tribal lands ensuring significant impact aligned with Justice40 Initiative goals.
Entities interested or eligible seeking project funding should contact respective NCIF/CCIA/Solar For All grant beneficiaries directly regarding opportunities & timelines detailed further via engagement webinars posted publicly through relevant official channels.
In addition beyond GGRF initiatives other IRA-related allocations fully funded include Methane Emission Reductions Program Climate Pollution Mitigation Grants Planning alongside varied environmental justice measures aimed at enhancing air quality/carbon labeling efforts.
