WASHINGTON -- The EPA on Wednesday said it would use a competitive grant process in order to distribute $7 billion for residential solar projects under a fund that congressional Republicans are seeking to eliminate.
The agency published a notice of funding opportunity for the grant competition, and said it intends to distribute up to 60 awards to states, territories, tribes, municipalities and nonprofits. These funds would be used to establish and expand low-income solar programs that provide financing and technical assistance. Applicants can seek the grants in three categories: $25 million to $100 million, $100 million to $250 million, and $250 million to $400 million.
The money is part of $27 billion Congress provided to establish the Greenhouse Gas Reduction Fund in last year’s climate, tax and health care reconciliation law. The program was modeled on so-called green banks that states have used to finance projects historically unable to obtain capital from traditional sources.
