Greenhouse Gas Reduction Fund Advisory
Greenhouse Gas Reduction Fund Advisory
Joel M. Laubenstein
Principal
Tyler R. Inda
J.D.
Principal
Michelle Isenhouer Hanlin
Director
Andy Koelbl
Principal
Manjima Bose
Director
Secure funding to create lasting community impact.
The Greenhouse Gas Reduction Fund (GGRF) provides states, investors, developers, Community Development Financial Institutions (CDFIs), community lenders, Tribes and Tribal entities an opportunity to bring renewable energy, net-zero buildings and zero-emission transportation to disadvantaged communities.
Discover how you can capitalize on the GGRF with our turnkey program design and deploy solution. We can help your organization maximize project funding by building a capital stack to include Inflation Reduction Act tax credits and other pairing sources. Are you eligible?
The GGRF has a $27 billion allocation through the Environmental Protection Agency. This initiative aims to increase options for structuring capital for clean energy projects in low-income or disadvantaged communities and be a catalyst for the emergence of green banks.
Of the $27 billion, $14 billion is available through the National Clean Investment Fund, $6 billion through the Clean Communities Investment Accelerator and $7 billion through Solar for All. Click the dropdowns below to learn more about the breakdown of available funds.
Overview: Through financial assistance (i.e., grants, subsidies, rebates, loans or other incentives) and technical assistance, communities, developers and homeowners can transition residential properties to be powered by solar energy. Except for six, all states received funding to implement Solar for All programs. States that opted out include: Florida, Idaho, Montana, North Dakota, Nevada and South Dakota. However, projects within these states can receive funding through the funding for American Indian and Alaskan Native Program and the Multi-State Program managed by Solar for All recipient not-for-profits or municipalities serving the area.
Investment amount: $7 billion
Eligible entities: 60 state and not-for-profits including housing authorities, not-for-profits, developers, local governments and Tribes
Qualified projects: residential rooftop solar, residential-serving community solar, associated storage and enabling upgrades
Eligible projects must meet the following criteria:
- Must be a qualified project;
- Must be in a low-income and disadvantaged community. Use the Climate and Economic Justice Screening tool (CEJST) to identify eligible Justice40 communities.
Overview: Community lenders (including CDFIs) may receive technical assistance funding to help design, develop and build-out green lending platforms that reduce green-house gas emissions in low and disadvantaged communities along with capital to lend/invest in qualified projects that reduce green-house gas emissions. Lenders can obtain as much as $10 million in capital, including $1 million in technical assistance.
Investment amount: $6 billion
Qualified projects: projects, activities or technologies that mitigate air pollution and greenhouse gases, supported by private investment or aiding community-led environmental efforts
Priority project categories:
- Distributed energy generation and storage
- Net-zero emissions buildings
- Zero-emissions transportation
Eligible projects must meet the following criteria:
- Must be a qualified project;
- Must be in a priority project category; and
- Must be in a low-income and disadvantaged community. Use the Climate and Economic Justice Screening tool (CEJST) to identify eligible Justice40 communities.
Overview: Organizations may receive financing for qualified projects or complete pre-development and market-building activities to reduce greenhouse gas emissions in low-income and disadvantaged communities.
Investment amount: $14 billion
Eligible entities: contractors, coalition members, not-for-profits and community-based organizations
Qualified projects: projects, activities or technologies that mitigate air pollution and greenhouse gases, supported by private investment or aiding community-led environmental efforts
Priority project categories:
- Distributed energy generation and storage
- Net-zero emissions buildings
- Zero-emissions transportation
Eligible projects must meet the following criteria:
- Must be a qualified project;
- Must be in a priority project category; and
- Must be in a low-income and disadvantaged community. Use the Climate and Economic Justice Screening tool (CEJST) to identify eligible Justice40 communities.
Greenhouse Gas Reduction Fund: Solar for All
On April 22, 2024, the U.S. Environmental Protection Agency announced 60 selectees to receive $7 billion in grant awards through the Solar for All grant competition to deliver residential solar projects to over 900,000 households nationwide. Read our latest whitepaper to learn more about strategies, procurement and development.
GGRF services
We specialize in program development, application assistance, deployment guidance, capital structuring, IRA compliance and impact measurement. We’re with you every step of the way to maximize community impact.
Leveraging our vast understanding of CDFI operations, energy transition and tax credits, we lead program development, application assistance, deployment guidance, capital structuring, IRA compliance and impact measurement, so you can maximize community impact.
Design
Structure your program and workforce for success
- Develop and document a business plan that aligns with your goals and vision
- Create a lending plan, which includes community engagement and compliance plans
- Identify and engage third-party partners who can provide capital, expertise and support
- Design an internal operations infrastructure that enables efficient and effective program management
Deploy
Ramp up your program and launch to the market
- Transition your program design to a fully functional operation with a dedicated team and systems
- Help identify and assess projects for qualification under GGRF and IRA
- Support your program delivery and engage external partners
- Build externally-facing materials that showcase your program value proposition and community impact potential
- Deliver an internal program operations suite that streamlines your intake, due diligence and funding processes
Operate
Monitor and report on your program and community impact
- Monitor and report on your program performance using compliance, governance, accounting and impact metrics
- Perform regular external communications with your partners, applicants and stakeholders
- Structure and share energy saving related data ensuring compliance with EPA requirements
- Enable project funding and deployment using your platform and funding package offerings
Capitalizing on the Greenhouse Gas Reduction Fund for renewable energy
How does the GGRF impact the renewable energy landscape? How can your organization prepare? Catch up with this on-demand webinar.
Related services
Inflation Reduction Act Tax Credit Solutions
The Inflation Reduction Act (IRA) includes the largest clean energy incentive effort in U.S. history. Find out how your organization can leverage IRA tax credits to save as much as 50% or more on qualifying project costs.
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Our accurate and reliable real estate valuations paired with strategic advisory services encompass the entire transaction lifecycle.
Our GGRF specialists
Connect with Baker Tilly energy development and capital structuring specialists to secure funding and maximize community impact. Go there. Start here.