EPA opens $20 billion in grant competitions to create national clean-financing network

U.S. Environmental Protection Agency

Jul 14, 20233 min read

U.S. EPA launched two notice-of-funding opportunities (NOFOs) for $20 billion across two grant competitions under the $27 billion Greenhouse Gas Reduction Fund, an Inflation Reduction Act program.

These competitive grant opportunities will mobilize private capital into clean-technology projects.

“The president and I set ambitious goals to cut our greenhouse-gas emissions by half by 2030 and reach net-zero emissions by 2050—the investments announced today move our nation towards achieving these goals and a cleaner, healthier future for generations to come,” said Vice President Kamala Harris.

EPA Administrator Michael Regan added, “The Greenhouse Gas Reduction Fund will spur private investment into clean technology projects and expand economic opportunity for communities that have been left behind, for families that want lower energy costs, and for workers who need good-paying jobs.”

The $14 billion National Clean Investment Fund will provide grants to support two to three national clean-financing institutions, enabling them to partner with the private sector to provide accessible, affordable financing for tens of thousands of clean-technology projects nationwide.

These national nonprofits will enable individuals, families, nonprofits, governments, small businesses and others to access the capital they need to deploy a diverse suite of clean-technology projects.

By mobilizing significant amounts of private capital, these national nonprofits will ensure that every dollar of public funds generates several times more in private investment.

At least 40 percent of the funds from the National Clean Investment Fund will be dedicated to low-income and disadvantaged communities.

The $6 billion Clean Communities Investment Accelerator will provide grants to support two to seven hub nonprofit organizations, enabling them to provide funding and technical assistance to public, quasi-public, not-for-profit and nonprofit community lenders working in low-income and disadvantaged communities.

These hub nonprofits will enable hundreds of community lenders—such as community-development financial institutions (including Native CDFIs), credit unions, green banks, housing-finance agencies, and minority depository institutions—to finance clean-technology projects in low-income and disadvantaged communities while also mobilizing private capital and building the capacity of community lenders to finance these projects for years to come.

One-hundred percent of the funds from the Clean Communities Investment Accelerator will be dedicated to low-income and disadvantaged communities. The deadline to apply for the National Clean Investment Fund grant competition is Oct. 12.

EPA intends to make two to three awards under this competition.

Applicants must be eligible nonprofits as defined in Section 134(c)(1) of the Clean Air Act and as further explained in the NOFO.

Coalitions, led by an eligible nonprofit, are also eligible to apply to this competition.

Additional details on eligibility can be found in Section III of the NOFO. EPA has published the NOFO for this grant competition on grants.gov. The deadline to apply for the Clean Communities Investment Accelerator grant competition is also Oct. 12.

EPA intends to make two to seven awards under this competition.

Applicants must be eligible nonprofits as defined in Section 134(c)(1) of the Clean Air Act and as further explained in the NOFO.

Coalitions, led by an eligible nonprofit, are also eligible to apply to this competition.

Additional details on eligibility can be found in Section III of the NOFO. EPA has published the NOFO for this grant competition on grants.gov.

EPA will host at least one public informational webinar for each competition to provide information on the grant competitions and the application processes.

The details and registration links for each are below.

The webinars will be recorded and posted on EPA’s GGRF webpage.