Author: WHCEQ Staff Published: 7/14/2023 White House Council on Environmental Quality
Today at 3:15 PM ET at Coppin State University in Baltimore, MD, Vice President Kamala Harris and EPA Administrator Michael Regan will announce $20 billion to capitalize a clean energy financing network that will massively expand investment in new projects that reduce pollution across the country. The U.S. Environmental Protection Agency’s $14 billion National Clean Investment Fund and $6 billion Clean Communities Investment Accelerator competitions are part of the Greenhouse Gas Reduction Fund, a historic $27 billion investment made through the Inflation Reduction Act. Together, these grant competitions will help combat the climate crisis by mobilizing financing and private capital for greenhouse gas- and air pollution-reducing projects in communities across the country.
Join the livestream: https://www.youtube.com/watch?v=0M0bKE6SAks
Also, you are invited to a Greenhouse Gas Reduction Fund webinar on Monday, July 17, 2023 at 2:00 PM ET to learn more about today’s announcement. See the full EPA press release and White House fact sheet for more information about this program.
- Ike Irby, Special Assistant to the President and Chief Climate Advisor to the Vice President
- Alison Cassady, Senior Policy Advisor for Clean Energy Innovation and Implementation
- Jahi Wise, Senior Advisor to the Administrator and Acting Director for the Greenhouse Gas Reduction Fund, Environmental Protection Agency
Register in advance for this webinar:
This virtual briefing is open to all stakeholders – please forward to others as appropriate.
More information about today’s announcement is available here and below.
The $20 billion will be deployed through two separate and complementary competitions, each aimed at mobilizing a national-scale clean energy financing network that ensures the clean energy opportunity reaches all Americans in every zip code:
- The $14 billion National Clean Investment Fund (NCIF) competition will provide grants to support two-to-three national clean financing institutions that will partner with the private sector to provide accessible, affordable financing for tens of thousands of clean technology projects nationwide. At least 40% of NCIF funds will flow to low-income and disadvantaged communities, including communities with environmental justice concerns, traditional energy communities, rural communities, Tribal communities and other underserved areas.
- The $6 billion Clean Communities Investment Accelerator (CCIA) competition will work in tandem with the NCIF by providing grants to support two-to-seven hub nonprofit organizations that will provide funding and technical assistance to community lenders working to finance clean technology projects – from retrofitting homes to be highly efficient and zero emissions to electrifying small businesses’ delivery fleets – in low-income and disadvantaged communities. All CCIA funds will flow to these communities, helping advance the B