EPA Releases Greenhouse Gas Reduction Fund Implementation Framework
The U.S. Environmental Protection Agency (EPA) released new details about the design of the $27 billion Greenhouse Gas Reduction Fund (GGRF), a first-of-its-kind, national-scale competitive grant program created by the President's Inflation Reduction Act. This program will leverage public investment with private capital and finance clean energy projects that reduce pollution and energy costs, increase energy security, and create good-paying jobs.
Energy Officials, Industry Partners Eye $7B for Hydrogen Infrastructure
The federal government has set aside $7 billion to fund the development of six to 10 regional hydrogen hubs across the country. It's part of the Biden administration's goal of a net-zero carbon economy by 2050. Hawai'i officials said the state has a good shot at securing the funding to build hydrogen infrastructure. It's one of only two states that applied to focus on green energy — solar and possibly geothermal.
Whitefish, MT Discusses Adding C-PACE District, Changing Marijuana Facility Ordinance
The Whitefish City Council considered a plan that could help businesses and also looked at potential changes to the marijuana facility ordinance. Seth Lutter, Associate Director of the Montana Facility Finance Authority, gave a presentation to the council about a new financing option for businesses called Commercial Property Assessed Capital Enhancements, or C-PACE.
'Green Bank' Legislation Aims to Speed Climate-Friendly Projects in Minnesota
There's a renewed push to create Minnesota's first "green bank," which proponents say would maximize public dollars to lower greenhouse gas emissions in disadvantaged communities. The proposed Minnesota Climate Innovation Finance Authority would create a public-private partnership structured as a nonprofit with a publicly appointed board.
Alaska Introduced Legislation for Renewable Energy and Conservation Project
Gov. Mike Dunleavy has introduced legislation to create a new financing entity for smaller-scale energy conservation and renewable energy projects aimed mainly at the residential and commercial or institutional building level. Senate Bill 125 and House Bill 154 would have the state housing corporation, the Alaska Housing Finance Corp., create a subsidiary to handle the new financing. If the legislation passes, home and building owners would be able to borrow at interest rates and loan terms more competitive than conventional commercial bank loans available today.
U.S. Department of Energy Announces $72M for Clean Energy Jobs
The U.S. Department of Energy (DOE) announced 5 higher education institutions to serve as Centers of Excellence for DOE's Industrial Assessment Centers (IAC) Program and will receive a combined $18.7 million in funding from the Bipartisan Infrastructure Law. DOE also announced a $54 million funding opportunity to expand the IAC Program to community colleges, trade schools, and union training programs, and create new Building Training and Assessment Centers at higher ed institutions.
USDA's $9.7B for Rural Co-Ops Could Leverage 20 Gigawatts of Clean Energy
The U.S. Department of Agriculture's (USDA) Rural Utilities Service will issue by mid-year a notice of funding opportunity for $9.7 billion in financial support for rural electric cooperatives. The program, funded by the Inflation Reduction Act, will make loans and grants to help rural electric co-ops purchase renewable energy, renewable energy systems, and other clean energy systems.
IRS Proposes Regulations for Energy Community Bonus Tax Credit
The U.S. Treasury Department and Internal Revenue Service (IRS) released guidance that provides detailed information about the bonus under the Inflation Reduction Act for clean energy projects and facilities located in communities that have driven and historically been at the forefront of energy production. Developers can receive a bonus of up to 10 percentage points on top of the Investment Tax Credit (ITC) and an increase of 10 percent for the Production Tax Credit (PTC).
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