ReImagine Appalachia Applauds EPA’s $500 Million Grant To Appalachian Community Capital To Stimulate Green Energy Investments In Low-Income Rural Communities Affected By Fossil Fuel Industry’s Decline

On April 4, the Environmental Protection Agency and the Biden-Harris Administration announced they have selected Appalachian Community Capital (ACC) for a $500 million grant award as part of the Clean Communities Investment Accelerator (CCIA). 

This grant will stimulate green energy investments in low-income rural communities affected by the fossil fuel industry’s decline.

ACC has established the Green Bank for Appalachia, Energy Communities, and Underserved Rural America (Green Bank for Rural America), a central hub for investment and technical assistance for community lenders, local leaders, and workforce development partners across the United States.

“I can’t underscore enough how exciting and impressive it is that the Appalachian focus Community Development Financial Institutions Fund (CDFI) received this significant investment,” said Dana Kuhnline, Senior Program Director for ReImagine Appalachia. “It will have a lasting, long-term impact on Appalachia, and to see our region excel in a competitive applicant pool for these investments is a huge testament to the work that partners are doing.”

The Biden-Harris Administration’s Inflation Reduction Act established the Greenhouse Gas Reduction Fund, a $27 billion initiative aimed at addressing the climate crisis, promoting economic competitiveness, and fostering energy independence. 

The CCIA program, a part of this initiative, provides grants to support five hub nonprofit organizations, enabling them to provide funding and technical assistance to community lenders working in low-income and disadvantaged communities.

“This is a game-changer for our region to build on decades of work to show the potential for growth of this industry,” said Amanda Woodrum, Co-Director for ReImagine Appalachia. “We’re excited for the potential to bring new economic opportunities, good jobs, and cheaper, cleaner energy to Appalachian communities.”

Click Here for more on the EPA selection of Appalachian Community Capital.

Click Here for the complete Reimagine Appalachia statement.

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[Posted: April 5, 2024]  PA Environment Digest