By Jamie Martin
President and Secretary Tom Vilsack unveiled a transformative $7.3 billion initiative for rural electric cooperatives. This move, part of the New ERA program under the Investing in America agenda, is set to fund over 10 gigawatts of renewable energy projects across 23 states.
This landmark funding aims to modernize the rural American energy landscape, echoing the monumental efforts of the 1936 Rural Electrification Act.
The projects selected are projected to lower energy costs and generate tens of thousands of jobs, signaling a significant economic uplift for rural areas.
Approximately five million households will benefit from more affordable, cleaner, and more resilient power. This massive undertaking will not only reduce the annual carbon footprint by the equivalent of removing over 10 million cars from the roads but also bolster grid reliability through significant investments in battery storage and other infrastructure enhancements.
The first grant and loan package has been awarded to Dairyland Power Cooperative, promising a 42% reduction in electric rates over the next decade. This initiative also supports the Justice40 Initiative, which aims to ensure that 40% of the benefits from federal investments reach disadvantaged communities.
USDA Rural Development plays a pivotal role in this initiative, continuing its mission to improve economic opportunities and quality of life in rural America.
With ongoing and future awards expected, this initiative marks a pivotal step towards an inclusive, sustainable, and prosperous future for rural communities across the nation.
Photo Credit: usda
Categories: National