Powering Affordable Clean Energy (PACE) Program Applications Open on June 30

Publication
Written By Amy Kirschbaum

PACE Program Applications Open on June 30
The Powering Affordable Clean Energy (PACE) program’s application will open on June 30, according to a recent announcement from the U.S. Department of Agriculture’s Rural Utilities Service (RUS). PACE is a new Inflation Reduction Act program that will provide $1 billion in partially forgivable loans to help finance large-scale renewable energy projects that benefit rural areas. For a proposed renewable energy project to qualify for the PACE program, at least half of the people it serves must live in communities with populations of 20,000 or fewer.
RUS will forgive up to 40% of most loans for renewable energy storage projects and renewable energy projects that use wind, solar, hydropower, geothermal, or biomass. The maximum loan amount is $100 million (including the forgivable portion), and the minimum is $1 million.
The PACE program is available to eligible applicants that generate electricity for resale to residents in both rural and nonrural areas, including corporations, states, political subdivisions of a state, municipalities, utility districts, nonprofits, Native American tribes, and U.S.-based for-profit entities. Groups of eligible applicants may collaborate to submit a single letter of interest (LOI).
Interested applicants must submit LOIs before September 29, 2023. LOIs are reviewed on a rolling basis.

Amy Kirschbaum

Amy Kirschbaum began her career on Capitol Hill in the office of Congressman E. Clay Shaw, Jr. (FL). Upon leaving her post as legislative assistant in Congressman Shaw's office, Amy worked for the U.S. Congressional Sunbelt Caucus as a legislative assistant and later as the Legislative Director. In 1992, Amy moved to Oregon where she continued her career in public affairs at the Oregon Department of Transportation. Before joining Strategics Consulting, Amy was the Executive Director of the Ovarian Cancer Alliance of Oregon and SW Washington. Amy grew up in Broward County, FL, and earned a bachelor’s degree in public policy from Duke University.

Email Amy at: amy@strategics.consulting

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