About the Greenhouse Gas Reduction Fund
The Inflation Reduction Act authorized the EPA to create and implement the Greenhouse Gas Reduction Fund, a historic $27 billion investment to combat the climate crisis by mobilizing financing and private capital for greenhouse gas- and air pollution-reducing projects in communities across the country. Together, the Greenhouse Gas Reduction Fund’s National Clean Investment Fund, Clean Communities Investment Accelerator, and Solar for All programs will finance clean technology deployment nationally, finance clean technology deployment in low-income and disadvantaged communities while simultaneously building the capacity of community lenders that serve those communities, and spur adoption of clean distributed solar energy that lowers energy bills for millions of Americans in low-income and disadvantaged communities.
- Program Overview
- National Clean Investment Fund
- Clean Communities Investment Accelerator
- Solar for All
Program Overview
The Greenhouse Gas Reduction Fund is designed to achieve the following program objectives:
- Reduce greenhouse gas emissions and other air pollutants.
- Deliver the benefits of greenhouse gas- and air pollution-reducing projects to American communities, particularly low-income and disadvantaged communities.
- Mobilize financing and private capital to stimulate additional deployment of greenhouse gas and air pollution reducing projects.
National Clean Investment Fund
Under the $14 billion National Clean Investment Fund (NCIF) program, EPA has awarded funds to three grant recipients to establish national clean financing institutions that deliver accessible, affordable financing for clean technology projects nationwide. These recipients are partnering with private-sector investors, developers, community organizations, and others to deploy projects, mobilize private capital at scale, and enable millions of Americans to benefit from the program through energy bill savings, cleaner air, job creation, and more.
Clean Communities Investment Accelerator
Under the $6 billion Clean Communities Investment Accelerator (CCIA) program, EPA has awarded funds to five grant recipients to establish hubs that provide funding and technical assistance to community lenders working in low-income and disadvantaged communities, providing an immediate pathway to deploy projects in those communities while also building capacity of hundreds of community lenders to finance projects for years.
Solar for All
Under the $7 billion Solar for All program, EPA has awarded funds to 60 grant recipients - including states, territories, Tribal governments, municipalities, and eligible nonprofit recipients to expand the number of low-income and disadvantaged communities primed for distributed solar investment. These recipients are enabling millions of low-income households to access affordable, resilient, and clean solar energy. Grantees are using funds to expand existing low-income solar programs and to design and deploy new Solar for All programs nationwide.