The Biden administration is making available $20 billion from a federal “green bank” for clean energy projects such as residential heat pumps, electric vehicle charging stations and community cooling centers.
FILE - A Tesla electronic vehicle charging station is seen Thursday, May 25, 2023, in Nashville, Tenn. The Biden administration is making available $20 billion from a federal"green bank" for clean energy projects such as residential heat pumps, electric vehicle charging stations and community cooling centers.
Regan, whose agency oversees the green bank, called the grant programs a way to “tackle the climate crisis and reshape the economy'' at the same time. The three programs will offer "transformational resources'' for many disadvantaged communities that often are passed over by commercial banks and investors, he said.
The $6 billion Clean Communities Investment Accelerator, meanwhile, will provide grants for up to seven nonprofits that will work with other groups to provide access to investments needed to deploy clean technology projects. Hundreds of community lenders, credit unions, housing finance agencies and other institutions will finance clean technology projects in low-income and disadvantaged communities, the EPA said.
“This is really about ensuring that every person in this country is experiencing the best quality of life as possible with clean energy technology providing that landing,'' he said.
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