The United States has announced the delivery of US$7.3bn to 16 rural electric cooperatives to fund clean energy projects to provide affordable energy to rural areas. The Empowering Rural America (New ERA) program, funded through the Inflation Reduction Act, aims to help rural electric cooperatives transition to clean, affordable, and reliable energy and distribute that power across rural areas.
The first round of electric cooperatives selected to receive the New ERA funds are expected to leverage private investments of more than US$29bn to build more than 10 GW of clean energy, to avoid 43.7 Mt/year of greenhouse gas emissions and to deliver affordable electricity to approximately 5 million rural co-op members, which represents 20% of rural households, farms, businesses and schools across 23 US states.
The Inflation Reduction Act invests nearly US$13bn in rural electrification across multiple programs to promote the clean and affordable electrification of rural areas in the US. The US targets a 50-52% reduction in GHG emissions in 2030 compared to 2005 levels.
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