Biden Earmarks Billions for Rooftop Solar Under Climate Law
In the government’s initial moves to allocate the $27 billion Greenhouse Gas Reduction Fund, it gave home and community solar a boost but dodged a decision on creating a national green bank.
A person holds onto a solar panel before installing on a residential rooftop.
Photographer: Brendon Thorne/BloombergThe Biden administration laid out plans to steer $7 billion toward residential and community solar projects in disadvantaged communities, while signaling it intended to widely distribute roughly $20 billion from last year’s climate law to catalyze clean energy investments nationwide.
With formal notices published Tuesday, the Environmental Protection Agency said it envisioned doling that nearly $20 billion to as many as 15 community development organizations, credit unions, housing agencies and other not-for-profit institutions, appearing to rebuff entreaties to dedicate the money to capitalize a single, nationwide green bank.