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White House announces $20B clean energy project investment

The Biden Administration is investing $20 billion in a clean energy financing network that will help reduce emissions across the country.

Jahi Wise with the Environmental Protection Agency tells Brownfield the funding is part of the EPA’s Greenhouse Gas Reduction Fund.

“The National Clean Investment Fund competition is designed to be a technology neutral competition that will allow the applicants to apply to propose innovative clean technology financing solutions that support many different sectors, including the agricultural sector.”

White House officials say the $20 billion will be allocated through two separate competitions with each utilizing projects that slash climate pollution.

Wise says the program will help the administration tackle the climate crisis and it’s expected to lower energy costs in rural communities.

“One hundred percent of the funding under the Clean Communities Investment Accelerator competition will be invested in low income and disadvantaged communities, which includes a great number of rural communities.”

EPA’s Greenhouse Gas Reduction Fund recently helped generate a $7 billion ‘Solar for All’ program that increases access to clean energy sources.