Some of the funds from the Inflation Reduction Act’s $27 billion “Green Bank” can be accessed two years after the law’s passage. |
Entities receiving funding under the $14 billion National Clean Investment Fund and $6 billion Clean Communities Investment Accelerator — both of which help fund climate-friendly projects around the country — can start using the money to implement the programs immediately.
Those under the policy’s $7 billion Solar for All program can now access a small percentage of their funding but will have to get the rest next year after they’ve finalized work plans and budgets.
Republicans have indicated they would try to repeal the $27 billion set aside to fund climate-friendly projects, describing it as a “slush fund.” But that becomes more difficult if the money is already in recipients’ hands.
“With climate impacts increasingly impacting all Americans, and especially those in communities that have been historically left behind, EPA knew it had to move swiftly and deliberately to get this historic funding out the door,” Environmental Protection Agency (EAP) Administrator Michael Regan in a written statement. Read more in a full report at TheHill.com. |
Welcome to The Hill’s Energy & Environment newsletter, we’re Rachel Frazin and Zack Budryk — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains.
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