Washington, D.C. – Rep. Frank Pallone, Jr. (D-NJ) on July 14 will join Vice President Kamala Harris and U.S. Environmental Protection Agency (EPA) Administrator Michael S. Regan to announce the launch of two competitive grant programs made possible by the recently-enacted Greenhouse Gas Reduction Fund. The Greenhouse Gas Reduction Fund, enacted last year as part of the Inflation Reduction Act, will invest a total of $27 billion to deploy clean energy and technology projects that reduce greenhouse gas emissions. The two grant competitions announced today will mobilize $20 billion of those funds and help create new good-paying jobs, lower energy costs for American families, and cut harmful climate pollution – especially for low-income and disadvantaged communities.
Pallone was instrumental in the creation and passage of the Greenhouse Gas Reduction Fund. An early supporter of the program, he included it in his comprehensive climate legislation, the CLEAN Future Act, fought to ensure it was included in the Inflation Reduction Act, and led opposition to House Republicans’ attempts to dismantle the program.
“Last week was the hottest week in recorded history. I fought to enact this first-of-its-kind Greenhouse Gas Reduction Fund because the climate crisis is here, and we need to use every tool in our toolbox to equip our communities with the resources they need to combat it. Thankfully, On July 14th’s announcement is a huge leap forward in the right direction,” said Rep. Frank Pallone, Jr., Ranking Member of the House Energy and Commerce Committee. “These new funding competitions have the power to transform our nation by deploying homegrown clean energy, slashing dangerous climate pollution, creating new, middle-class jobs, and ensuring no community is left behind. I’m pleased with how quickly EPA is getting this critical program off the ground and I look forward to the much-needed help it will deliver to Americans across the country.”
The two Notices of Funding Opportunity (NOFOs) announced on July 14 are for the National Clean Investment Fund and the Clean Communities Investment Accelerator competitions. The $14 billion National Clean Investment Fund will provide grants to two-to-three national nonprofit organizations to create national clean financing institutions capable of partnering with the private sector to provide accessible, affordable financing for tens of thousands of clean technology projects nationwide. The $6 billion Clean Communities Investment Accelerator will provide grants to two-to-seven hub nonprofit organizations, enabling them to provide funding and technical assistance to community lenders working in low-income and disadvantaged communities. Applicants have until October 12th to submit their application packages.
July 14th’s announcement can be viewed live HERE.
Original source can be found here
