EPA awards $20 billion in green bank grants for clean energy projects nationwide

DETROIT (AP) — The Environmental Protection Agency on Thursday awarded $20 billion in federal “green bank” grants to eight community development banks and nonprofit organizations to use on projects combating climate change in disadvantaged communities and helping Americans save money and reduce their carbon footprints.

The money could fund tens of thousands of eligible projects ranging from residential heat pumps and other energy-efficient home improvements to larger-scale projects such as electric vehicle charging stations and community cooling centers, according to senior administration officials.

Vice President Kamala Harris, EPA Administrator Michael Regan and other officials planned to announce the grant selections during a visit to Charlotte, North Carolina on Thursday.

Recipients were awarded competitive grants from two of the three programs overseen by the “green bank” created in the Biden administration’s landmark climate law, the Inflation Reduction Act, passed in 2022.

Formally known as the Greenhouse Gas Reduction Fund, the $27 billion bank is one of many federal efforts to invest in solutions that cut planet-warming greenhouse gas emissions and address human-caused climate change, a topic President Joe Biden has emphasized in his presidency and reelection campaign.

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