USDA's Rural Utilities Service Heads to Kansas and Nebraska to Discuss PACE and New ERA
On May 16, the U.S. Department of Agriculture’s Rural Utilities Service (RUS) announced $10.7 billion in federal funding for two new programs: Empowering Rural America (“New ERA”) and Powering Affordable Clean Energy (PACE).
Chris McLean, U.S. Department of Agriculture Assistant Administrator, is heading to Wichita, Kansas, and Lincoln, Nebraska, to brief utility leaders on both programs.
At the meetings, which are intended for cooperative, municipal, and Tribal utility staff, McLean will explain the programs, including eligibility requirements and how to participate.
PACE offers $1 billion in RUS loans for renewable energy infrastructure. The Inflation Reduction Act (IRA) requires the agency to forgive up to 50% of the loan amount. Eligible entities include electric service providers, including municipal, cooperative, investor-owned, and Tribal utilities.
New ERA offers up to $9.7 billion for loans, grants, loan modifications, and other financial assistance to support the purchase of renewable energy systems, zero-emission systems, and carbon capture systems. Funding also may be used to deploy these systems or to make energy-efficiency improvements to generation and transmission systems of eligible entities.