Biden Administration to Offer $11 Billion in Grants and Loans for Rural Clean Energy Projects

The Biden administration has announced that rural electric cooperatives, utilities, and other energy providers will soon be able to apply for almost $11 billion in grants and loans for clean energy projects. The funds are part of the $430 billion Inflation Reduction Act signed into law last August. The Department of Agriculture (USDA) has said that rural electric cooperatives will be eligible to apply for $9.7 billion in grants for deploying renewable energy, zero-emission, and carbon capture systems from July 31. Renewable energy developers and electric service providers will also be eligible to apply for another $1 billion in partially forgivable loans from June 30. The investment is expected to bring good-paying jobs to rural communities and help rural electric cooperatives reach parity with private utility companies who have already begun significant investment in clean energy.

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