USDA Powering Affordable Clean Energy (PACE) due 9/29.
Powering Affordable Clean Energy (PACE)
The Powering Affordable Clean Energy (PACE) program is part of the Inflation Reduction Act, which represents the largest investment in rural electrification since President Franklin Delano Roosevelt signed the Rural Electrification Act into law in 1936. With $1 billion in funding, PACE helps make clean, affordable, and reliable energy accessible to the people of rural America.
Under PACE, USDA Rural Development’s Rural Utilities Service (RUS) will forgive up to 60 percent of loans for renewable energy projects that use wind, solar, hydropower, geothermal, or biomass, as well as for renewable energy storage projects.
PACE funding makes it more affordable for rural Americans to use clean, reliable energy to heat and cool their homes, run their businesses, and power their cars, schools, and hospitals.
Eligible entities include: Corporations, states, and territories, along with their subdivisions and agencies, Municipalities, Utility districts, Cooperatives, Nonprofits, Indian Tribes, Alaska Native, regional, or village corporations, Limited Liability Companies or other for-profit entities organized under the laws of any U.S. state or territory
Total Amount Available:
Letters of Interest (LOIs) are due 9/29/2023
An applicant that is invited by RUS to proceed with the loan Application will have 60 days, or a time agreeable to the Agency, to complete and submit a loan Application beginning from the date the Invitation to Proceed is emailed to the PACE Applicant. If the deadline to submit the completed Application falls on Saturday, Sunday, or a Federal holiday, the Application is due the next business day.
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