Rural electric cooperatives, utilities, and other energy providers will soon be able to apply for nearly $11 billion in grants and loans for clean energy projects, funded by the $430 billion Inflation Reduction Act signed into law last August, the Biden administration said on Tuesday.
Expanding clean energy to rural communities is critical to meeting the administration's goal of net-zero emissions by 2050, officials told reporters on a Monday press call.
"This is an exciting and an historic day and continues an ongoing effort to ensure that rural America is a full participant in the clean energy economy," said Agriculture Secretary Tom Vilsack on the call.
Rural electric cooperatives will be eligible to apply beginning July 31 for $9.7 billion in grants for deploying renewable energy, zero-emission, and carbon capture systems, the Department of Agriculture (USDA) said.
Renewable energy developers and electric service providers like municipal and Tribal utilities will be eligible to apply beginning June 30 for another $1 billion in partially forgivable loans for financing wind, solar, geothermal, biomass, and other renewable energy projects, USDA said.
More: Biden administration announces $11 billion for rural clean energy projects