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EPA Announces $20 Billion in Grant Awards Through Greenhouse Gas Reduction Fund

Thursday, April 4, 2024 - 9:17AM

The U.S. Environmental Protection Agency (EPA) today announced $20 billion in grant awards for two categories in the Greenhouse Gas Reduction Fund (GRRF), which was created by the Inflation Reduction Act of 2022. Three organizations will receive a combined $14 billion in grants under the National Clean Investment Fund and five organizations will receive a combined $6 billion in grants in the Clean Communities Investment Accelerator. The National Clean Investment Fund winners will use the funding to establish hubs to provide funding and technical assistance to community lenders working in low-income communities, provide pathways to deploy projects in the communities while building capacity of community lenders to finance projects. The Clean Communities Investment Accelerator awardees will create a national clean financing network for clean energy and climate solutions across sectors. The EPA said that $14 billion of the capital will go toward low-income and disadvantaged communities.

Funding and tax incentives from the IRA will be key topics at the Novogradac 2024 Spring Renewable Energy Tax Credits Conference, May 16-17 in San Diego.

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