The Biden administration is investing $20 billion in two grant competitions focused on clean technology projects benefitting underserved regions.
Vice President Kamala Harris on Friday announced that the government will allocate $14 billion to the National Clean Investment Fund, and $6 billion to the Clean Communities Investment Accelerator program.
NCIF will select up to three financing institutions that will work with the private sector to fund clean technology projects across the country, especially marginalized sectors. Forty percent of the grants will go to initiatives that benefit low-income, disadvantaged, tribal, underserved and rural communities, as well as areas with environmental justice issues.
CCIA is designed to collaborate with NCIF in providing grants to a maximum of seven nonprofit organizations. The chosen entities will deliver financial and technical support to community lenders of projects geared toward building electric vehicle fleets and energy-efficient homes in disadvantaged regions.
