Ag Secretary Tom Vilsack announced the largest investment in Rural Electrification since the 1930’s under the Inflation Reduction Act. Clean energy funding will be made available in two programs for clean energy in Rural America. A total of $10.7 billion will be awarded in the form of loans, loan forgiveness and grants. Secretary Vilsack says the first program is called the Powering Affordable Clean Energy program. PACE will be available to coops, and companies for clean energy projects that will create jobs and lower costs for rural Americans. “This program will provide loans, a portion of which can be forgiven, for development of energy projects or energy storage.” The remaining $9.7 billion will be used for rural electric coops to support the purchase or ownership of renewable energy, renewable energy systems, zero emission systems, and carbon capture systems.
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