The Inflation Reduction Act Sparks a Clean Energy Revival for Rural Businesses
- (Last Updated On: June 2, 2023)
The U.S. Department of Agriculture is making a massive investment of almost $11 billion in clean energy for rural communities, with funding from the Inflation Reduction Act of 2022. That should come as no surprise. From the hydropower dams of the Great Depression to the present day, clean energy has been a running theme in federal efforts to support rural economic development. The new USDA effort takes it to the next level by scaling up new zero- and low-carbon technologies.
The USDA announced $11 billion in new funding for rural clean energy projects on May 16, with part of the program described as “the single largest investment in rural electrification since President Franklin D. Roosevelt signed the Rural Electrification Act into law in 1936.”