What does this funding get me?

In April 2024, the Environmental Protection Agency (EPA) awarded $27 billion in competitive funding to 8 different nonprofit entities to improve the financing of clean energy for households, communities, businesses, and nonprofits, especially in low- to moderate-income areas. 

Am I eligible?

The Greenhouse Gas Reduction Fund (GGRF) is actually 3 different funds, each of which will support different groups:

Solar for All ($7 billion to provide low-income households access to solar; see this separate page for details)  

National Clean Investment Fund (NCIF)

Three national nonprofit clean financing institutions will partner with the private sector to provide accessible, affordable financing for clean energy projects across the country. Funds will finance electric vehicles, renewable energy generation, and energy efficiency upgrades for single-family and multifamily residences, community facilities, small businesses, schools, and others, with at least 40% going to low-income and disadvantaged communities. Awards went to:

  • Climate United Fund ($6.97b): Calvert Impact, Self-Help Ventures Fund, and Community Preservation Corporation
    • These Frequently Asked Questions spell out the types of financing Climate United will provide.
    • News release about Climate United’s first loan: $31.8 million to finance the largest solar project in Arkansas, benefitting the entire University of Arkansas system.
    • Climate United’s NEXT program will provide grants up to $300,000 to underserved communities to plan clean energy projects that can later apply for financing. The first round (deadline 1/10/25) is for projects in Native communities; eligible applicants are nonprofits, state and local governments, Tribes, and institutions of higher education. Later rounds will focus on other communities.
    • Financing for consumer and multifamily programs are under development.
    • Intake form (to indicate general interest in clean energy financing through Climate United).
  • Coalition for Green Capital (CGC) ($5b): see coalition members here

The recipients’ individual web pages linked above provide more information on their plans and opportunities to work with them or receive updates on their activities. The work plans they submitted to EPA are available here.

Clean Communities Investment Accelerator (CCIA)

Grants were awarded to 5 hub nonprofits that will, in turn, deliver funding and technical assistance to build the clean energy financing capacity of local community lenders. 100% of funds will go to financing projects in low-income and disadvantaged communities. 

Community lenders that will receive support include public, quasi-public, not-for-profit, and nonprofit community lenders such as community development financial institutions (CDFIs), credit unions, green banks, housing finance agencies, and minority depository institutions.

Awards went to:

  • Opportunity Finance Network (OFN) ($2.29b)
    • OFN is a membership organization for mission-driven community lenders. At the link above, lenders can join OFN and then apply for pilot-round funding under CCIA. Lenders new to climate finance can join a Nascent Climate Lender Training Program.
  • Inclusiv ($1.87b)
    • Under Inclusiv’s CCIA program, 300-400 credit unions will receive grants over the next 3-4 years to help grow affordable green lending programs.
    • Grants will range from $275,000 to $11 million.
    • Inclusiv’s pre-qualification application for the first round ended December 18, 2024. Future pre-qualification rounds will be announced at a later date.
  • Justice Climate Fund ($940m)
  • Appalachian Community Capital ($500m)
    • This money will be deployed through the ACC’s subsidiary Green Bank for Rural America.
    • Community lenders: learn more and apply; watch a webinar: Mastering the Application Process
    • Phase I investments will target support for communities hardest hit by Hurricane Helene; Phase II will prioritize investments throughout Appalachia, energy communities, rural communities of color, and Native communities nationwide, while also offering financing and technical assistance to all eligible rural areas nationwide. All activities will be expanded in the future to include other rural communities around the country.
  • Native Community Development Finance Institution (CDFI) Network ($400m)

Check the recipients’ individual web pages linked above for more information and to sign up to receive updates on their activities. The work plans they submitted to EPA are available here.

How can I access the money?

You can sign up to receive email updates from each recipient on their web pages linked above. For some of them, we also list links above to inquire about financing for your project.

What is the timeline?

EPA announced grant awards to the 8 recipients above in April 2024. Check each of their websites, linked above, for timing of their program rollout and availability of loans.

What other incentives could I use to help me accomplish my goals?

If you are installing solar or battery storage, you are eligible for a tax credit. Even nonprofits can now receive the tax credit as a direct payment! Read more here:

Atlas Public Policy offers the Project Finance Hub to help you find clean energy project financing through GGRF and otherwise.

Check the Database of State Incentives for Renewables & Efficiency (DSIRE) for additional incentives that may be offered by your state, local government, or utility, as well as important federal, state, and local policies. For questions regarding DSIRE, contact Justin Lindemann (NC Clean Energy Technology Center) at jplindem@ncsu.edu.

Where can I get more information?

Given the changing status of federal policies and programs, we recommend contacting us via email at info@energyfundsforall.org or phone at 919-839-0006 ext. 103 to confirm program availability. 

Learn more at our FAQs HERE  and contact your legislators HERE.