On May 16th, Joe Biden made an announcement that soon electric providers will be able to apply for up to almost $11 billion in grants and loans for energy projects. The Empowering Rural America program is being funded by the $430 billion Inflation Reduction Act that Biden signed into law in August 2022. The Biden administration hopes to get to Net-Zero emissions by 2050.

Starting July 31st, energy providers can apply for up to $9.7 billion in grants. These grants are for carbon capturing systems and renewable energy. Beginning June 30th, renewable energy developers will be able to apply for up to $1 billion in loans for financing the development of energy sources such as wind, solar and geothermal. These loans are partially forgivable loans.

https://www.reuters.com/world/us/biden-administration-announces-11-billion-rural-clean-energy-projects-2023-05-16/

https://www.usda.gov/media/press-releases/2023/05/16/biden-harris-administration-makes-historic-11-billion-investment

https://www.whitehouse.gov/briefing-room/statements-releases/2023/04/04/fact-sheet-biden-harris-administration-announces-new-clean-energy-projects-to-revitalize-energy-communities-support-coal-workers-and-reduce-reliance-on-competitors-like-china/

https://apnews.com/article/climate-environment-biden-solar-wind-renewable-energy-abf79c38d380172023c8e9978746b54c