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Vice President Kamala Harris and Environmental Protection Agency Administrator (EPA) Michael Regan on Thursday announced eight organizations that will oversee the spending of $20 billion in grants to fund tens of thousands of clean energy and transportation projects in disadvantaged communities across the United States. The $20 billion, made available through the $27 billion Greenhouse Gas Reduction Fund (GGRF) created in the 2022 Inflation Reduction Act, will largely be invested in projects ranging from home energy retrofitting programs to off-grid renewable energy in communities that have not had access to green financing.
EPA initial guidance on design of Greenhouse Gas Reduction Fund GGRF program created by President Biden’s Inflation Reduction Act IRA. This guidance provides recipients to apply for $27 billion in funding from green bank financial assistance for projects that reduce GHGs.
The Inflation Reduction Act of 2022 included $27 billion for the GHGRF, which is to be used through September 30, 2024 for grants and loans to support clean energy investments. EPA charged the EFAB to evaluate the objectives, reporting, and accountability of the GHGRF