EPA will hold three complementary competitions to strategically distribute grant funding under the $27 billion GGRF program. While each competition will be administered separately, EPA expects that these competitions will work in tandem to deliver tangible benefits including lower energy costs, good-paying jobs and improved public health outcomes to households, businesses, and communities. The three competitions will be:
The $14 billion National Clean Investment Fund competition will fund two to three national nonprofits that will partner with private capital providers to deliver financing at scale to businesses, communities, community lenders, and others, catalyzing tens of thousands of clean technology projects to accelerate our progress towards energy independence and a net-zero economic future.
The $6 billion Clean Communities Investment Accelerator competition will fund two to seven hub nonprofits with the plans and capabilities to rapidly build the clean financing capacity of specific networks of public, quasi-public and non-profit community lenders—including community development financial institutions (including Native CDFIs), credit unions, green banks, housing finance agencies, and minority depository institutions—to ensure that households, small businesses, schools, and community institutions in low-income and disadvantaged communities have access to financing for cost-saving and pollution-reducing clean technology projects.
The $7 billion Solar for All competition will provide up to 60 grants to States, Tribal governments, municipalities, and nonprofits to expand the number of low-income and disadvantaged communities that are primed for residential and community solar investment—enabling millions of families to access affordable, resilient, and clean solar energy.
EPA will implement these programs in alignment with President Biden’s Justice40 Initiative, which aims to ensure that 40% of the overall benefits of certain Federal investments flow to disadvantaged communities that are marginalized, underserved, and overburdened by pollution. EPA expects to open competitions for funding under the Greenhouse Gas Reduction Fund by summer 2023.
Grant Management Associates has years of experience with opportunities like this one. Contact us today for a consultation.