News

White House invests $11 billion in clean rural energy

The Biden Administration has announced the single largest investment in rural electricity since the 1930s.

Ag Secretary Tom Vilsack says the $11 billion in grants and loans for rural energy utility providers will increase clean energy across the U.S., “Transitioning away from fossil fuel-based systems to more renewable systems.”

Funding will be available through two new programs including the  Empowering Rural America (“New ERA”) program which will make $9.7 billion available to rural cooperatives.

“To support the purchase or ownership of renewable energy, renewable energy systems, Zero emission systems, and carbon capture systems,” he says.

The Powering Affordable Clean Energy (PACE) program offers $1 billion in partial loan forgiveness.

“We’ll be looking for wind, solar, hydro, geothermal or biomass projects,” he explains.

Vilsack says some projects can also stack benefits like tax credits or previously announced investments to accelerate clean energy efforts.