Planning Your Local Strategy to Win Federal Funding
Planning Your Local Strategy to Win Federal
Funding
The Bipartisan Infrastructure Law (BIL) provides $1 trillion in public investments over five years. That includes 60 new programs in the Department of Energy that will commit $43.5 billion in federal funding through competitive grants.
The Inflation Reduction Act (IRA) recently announced $7 billion in funding for residential solar projects in low-income areas. The IRA provides robust tax incentives for investments in renewable energy, zero-emission systems, and energy-efficiency improvements. A new elective pay (or “direct pay”) feature provides tax-exempt and governmental entities the ability to receive a payment equal to the full value of tax credits for qualifying clean energy
projects.
This level of funding for energy programs is unprecedented and won’t last long. It’s imperative that you’re prepared to pursue these historic funding opportunities. A great way to start is by developing a list of potential programs that best align with your utility’s priorities. Part of your overall strategy should include determining match requirements and whether you need a grant writer.