Clean Energy Funding Wins in 2024
Clean energy projects surged in 2024. With over $100 billion in federal grants awarded to date, plus additional millions in tax credits, local governments, businesses, and other organizations are getting support to transition to clean energy and bring related benefits to their communities.
Below is a catalog of entities that have stepped up ambitious projects. Often with RMI’s support and technical assistance, they have taken advantage of the unprecedented clean energy incentives in the Inflation Reduction Act (IRA).
Big Sky Sustainability Network Organization (SNO) shows that solar panels and affordable housing are a great match. Solar panels can provide affordable housing with greater energy efficiency and lower electricity bills for residents. Montana-based Big Sky SNO knew this and approached Big Sky Community Housing Trust to power the new Riverview apartment complex with solar energy—but they didn’t realize how much they could get back in federal tax credits until they participated in RMI’s Clean Energy Academy and learned they could leverage IRA Direct Pay incentives to offset the upfront cost of the panels. And with annual resident savings of $600 per household, this project will have ripple effects throughout the community. Learn more.
Tri-State rural electric co-op will save customers millions. Building more clean energy capacity in rural areas can cut costs and increase the reliability of power for communities. Tri-State Generation and Transmission Association in Westminster, Col. is one of 22 rural electric cooperatives selected to receive funding under a $9.7-billiion program to deploy clean energy for their customers. Part of the USDA’s Empowering Rural America (New ERA) program, this funding will help Tri-State create 2,200 short- and long-term jobs; expand solar, wind, and battery capacity; and reduce member electricity rates 10 percent by 2034.
RMI provided resources to Tri-State and other applicants to help them design the most effective and ambitious projects, and the program offers critical reinvestment as less economical electricity generation resources are retired. “The concept was how can we help grow America with investments in the event of closing coal plants,” said Duane Highley, Tri-State’s CEO. Learn more.
The Port of Los Angeles upgrades equipment to lower air pollution. A $412 million grant from the EPA’s Clean Ports Program will help the Port of LA — the country’s busiest trade gateway — with the crucial work of reducing climate and air pollution. The port plans to use the funding for upgraded zero-emission equipment, infrastructure, and vehicles, as well as workforce development and community engagement. The Greater Los Angeles area is uniquely positioned to lead the energy transition, boasting more than 60 proposed decarbonization projects across heavy industry and heavy transport. RMI and the Mission Possible Partnership, in partnership with Bezos Earth Fund, are working to enable these projects and turn Los Angeles into a clean industrial hub. That includes working with the Port of LA on their ambitious decarbonization goals, which are now closer to becoming a reality thanks to the new grant. Learn more.
San Antonio, Tex. paves the way for other cities on solar. With one of the largest municipal on-site solar projects in the country, the City of San Antonio is working to put solar panels on dozens of public rooftops and parking lots, thanks to RMI’s technical assistance. But the project isn’t just one of the largest, it’s also one of the first municipal projects to take advantage of Direct Pay, which allows public entities to now access key clean energy tax credits. The project will offset 13% of City operations’ electricity consumption and save $7-11 million over its lifetime. Learn more.
University of New Mexico goes big on solar. The rooftop of the Student Union Building at the University of New Mexico provides a perfect place for solar panels to soak up the strong New Mexico sun and power the buildings below. With an array on part of the rooftop and plans for panels to cover the rest of it, the university has big goals for the future of renewable energy at the school. With help from RMI’s Clean Energy Academy, the university is taking advantage of not just the 30% Investment Tax Credit for the project, but also the low-income adder, which adds an additional incentive for projects located in low-income communities. Learn more.
Climate Access Fund makes solar more accessible. Located in the heart of Baltimore, Md., the Climate Access Fund (CAF) is on a mission to bring community solar projects to low-income communities. Its first project, a community solar array on the roof of the Henderson-Hopkins school, will provide discounted power to 150 low-to-moderate income households. CAF, a nonprofit, will own the solar panels and take advantage of IRA incentives like the Investment Tax Credit and low-income bonus adder via Direct pay, to pass on savings to subscribers. Within RMI’s RISE cohort, participants, including CAF, are taking advantage of Direct Pay to increase access to affordable solar for low-income residents. Learn more.
Header image is a rooftop solar array on a San Antonio pre-school and is part of the City of San Antonio solar project. Photo courtesy of Big Sun Solar.
