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Home - Policy - US rural electric cooperatives secure $4.37 billion in clean energy financing – SPE
Policy

US rural electric cooperatives secure $4.37 billion in clean energy financing – SPE

solarenergyBy solarenergyDecember 24, 2024No Comments2 Mins Read
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Funding from the U.S. Department of Agriculture’s Empowering Rural America Program is available to rural electric cooperatives in Arizona, Colorado, Florida, Georgia, Minnesota, Nebraska and Texas.

December 24, 2024
Anne Fischer

By pv magazine USA

Awards of more than $4.37 billion through the U.S. Department of Agriculture’s (USDA) Empowering Rural America (New ERA) program are intended to support at least 5,000 jobs, reduce electricity costs for businesses and households, and reduce climate pollution to be reduced by 1.1 million tonnes each year.

The New ERA program, part of the Inflation Reduction Act, makes funding available to member-owned rural electric cooperatives located in Arizona, Colorado, Florida, Georgia, Minnesota, Nebraska and Texas. The USDA reports that this is the largest investment in rural electrification since 1936.

“USDA is committed to improving the quality of life and improving the air and water in our rural communities,” said USDA Secretary Vilsack. “The Inflation Reduction Act’s historic investments will allow USDA to partner with rural electric cooperatives to strengthen America’s energy security and lower electricity bills for hardworking families, farmers and small business owners.”

One of the rural cooperatives receiving funding is Connexus Energy, Minnesota’s largest electric cooperative, which has received nearly $170 million in grant funding for more than 282 MW of renewable hydro, solar and wind energy, and 20 MW of battery energy storage. These projects are expected to reduce costs for members, support nearly 400 jobs and reduce climate pollution by more than 1.1 million tons per year.

“Connexus Energy’s mission is to power our member-owners and communities toward a smarter energy future with a passionate focus on affordability and reliability,” said President and CEO Brian Burandt. “We appreciate that the USDA recognizes the substantial benefits our portfolio of projects provides our member-owners in decarbonizing our energy supply in accordance with our Board-approved Resource Plan. Our team is eager to leverage the New ERA investment for our members and the communities where these projects will be developed.”

To read further, visit our pv magazine USA website.

This content is copyrighted and may not be reused. If you would like to collaborate with us and reuse some of our content, please contact: editors@pv-magazine.com.

See also  Increased solar energy helps to lower European electricity prices - PV Magazine International

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