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US Invests $20 Billion More to Finance Clean-Energy Projects
Thursday America's Environmental Protection Agency "awarded $20 billion to help finance clean-energy projects across the country," reports the Washington Post. The money comes from the Greenhouse Gas Reduction Fund established by President Biden's signature climate law, the Inflation Reduction Act...
Imagine a community group that wants to install electric vehicle charging stations at its neighborhood recreation center but can't get a loan from a bank or a lender. The program aims to overcome this problem by providing a huge influx of federal cash — $27 billion in total — for nonprofit organizations to dole out to clean-energy projects nationwide. "It's just really hard to get banks to bring capital into low-income communities, especially for these new projects that they're not used to financing," said Adrian Deveny, the founder of the firm Climate Vision and the former director of energy and environmental policy for Senate Majority Leader Charles E. Schumer (D-N.Y.), a key architect of the Inflation Reduction Act....
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