BEL hosts joint DOE and USDA meeting on grant programs
U.S. Department of Agriculture rolling out $10.7B in loans and grants for electric utilities
BEL has invited the U.S. Department of Agriculture’s Rural Utilities Service (RUS) and the Department of Energy to discuss an array of funding opportunities.
The DOE will cover its Energy Improvements in Rural or Remote Areas (ERA) program, which seeks to improve the resilience, reliability, and affordability of energy systems in communities across the country with 10,000 or fewer people.
RUS representatives will review the $10.7B in funding available under sections 22001 ($1B) and 22004 ($9.7B) in the Inflation Reduction Act (IRA) and how to access that funding. For Section 22001, we will review the $1 billion in loan money targeted to renewable energy infrastructure. USDA could forgive up to 50% of the loan. Eligible entities include electric service providers: municipal and cooperative utilities, as well as investor-owned and Tribal utilities.
For Section 22004, RUS has up to $9.7 billion in the form of loans, grants, loan modifications, and other financial assistance to support the purchase of renewable energy systems, zero-emission systems, and carbon capture systems. Funding also may be used to deploy these systems or to make energy-efficiency improvements to generation and transmission systems.
Register now for the RUS Grant and Loan Program Review on May 22, 11:30 AM to 1:00 PM ET.
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