NewsThe White House announces plans to invest nearly $11 billion in rural renewable energy
May 16, 2023
The U.S. Department of Agriculture has allocated nearly $11 billion to bring affordable clean energy to rural communities throughout the country. This is the largest federal investment in rural electrification since President Roosevelt's signing of the Rural Electrification Act in 1936.
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- The Empowering Rural America program will make funding available for rural electric cooperatives to create renewable energy, zero-emission and carbon capture systems.
- The Powering Affordable Clean Energy program will make $1 billion available for loans to finance renewable energy projects such as large-scale solar, wind and geothermal projects, with the goal of providing affordable clean energy to vulnerable, disadvantaged and Indigenous communities.
- Funding for these programs has come from the Inflation Reduction Act, which has generated hundreds of billions of dollars for renewable energy transition and environmental cleanup.
