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Biden-Harris Administration Launches Historic $20 Billion in Grant Competitions to Create National Clean Financing Network as Part of Investing in America Agenda | US EPA

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October 18-20, 2023 / Tucson, AZ
The annual summit for research institution gap fund and accelerator programs, including proof of concept programs, startup accelerators, and university venture funds

The Story

WASHINGTON (July 14, 2023) – Today, the U.S. Environmental Protection Agency (EPA) launched two Notices of Funding Opportunity (NOFOs) for $20 billion across two grant competitions under the historic $27 billion Greenhouse Gas Reduction Fund, an Inflation Reduction Act program central to President Biden’s Investing in America Agenda and environmental justice goals. Together, these competitive grant opportunities will mobilize private capital into clean technology projects to create good-paying jobs and lower energy costs for American families, especially in low-income and disadvantaged communities, while cutting harmful pollution to protect people’s health and tackle the climate crisis. EPA Administrator Michael S. Regan will join Vice President Kamala Harris today to announce the two grant competitions along with Senator Tom Carper (DE), Senator Ed Markey (MA), Senator Chris Van Hollen (MD), Congressman Frank Pallone (NJ-06), and Congressman David Trone (MD-06) at an event at Coppin State University in Baltimore, Maryland, where they will receive a briefing from local climate leaders and deliver remarks.

“The President and I set ambitious goals to cut our greenhouse gas emissions by half by 2030 and reach net-zero emissions by 2050—the investments announced today move our nation towards achieving these goals and a cleaner, healthier future for generations to come,” said Vice President Kamala Harris. “Students, small business owners and community leaders with innovative ideas to reduce our emissions and accelerate our clean energy transition will now see their projects become reality, all while creating good-paying jobs and a clean energy economy that works for all.”

“Communities on the front lines of the climate crisis will be the first to reap the benefits of President Biden’s historic investments in the clean economy,” said EPA Administrator Michael S. Regan. “The Greenhouse Gas Reduction Fund will spur private investment into clean technology projects and expand economic opportunity for communities that have been left behind, for families that want lower energy costs, and for workers who need good-paying jobs. This is what President Biden’s Investing in America agenda is all about.”

“It’s been over a decade since we first put the idea of creating a national climate bank on paper. Today, that idea is becoming a reality. With the launch of the Greenhouse Gas Reduction Fund, we are deploying powerful tools to help us address climate change through innovative new solutions while creating jobs and growing our economy. These funds will serve as a force multiplier for private investment in clean energy projects to cut emissions and promote environmental justice in underserved communities across the country. This is a win for workers, our economy, and our fight to confront the climate crisis,” said Senator Chris Van Hollen (MD).

 

 

Full story: Biden-Harris Administration Launches Historic $20 Billion in Grant Competitions to Create National Clean Financing Network as Part of Investing in America Agenda | US EPA

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