Speaking at Prince William Forest Park in Virginia on Monday, US President Joe Biden acknowledged Earth Day by announcing a $7bn investment in solar energy projects across the USA – which will focus on disadvantaged communities.
Biden additionally announced a series of “historic climate actions” taking place throughout this week.
The $7bn in grants will be invested into the Environmental Protection Agency (EPA)’s “solar for all” program, which is intended to benefit low-income families currently spending up to 30% of their income on energy.
“These awards across the country [are to] states, territories, tribal governments, municipalities and non-profits to develop programs to enable low-income and disadvantaged communities to benefit from residential solar power.
Solar for all program means 900,000 households will have solar on the rooftops for the first time and soon, millions of families will save over $400 a year on utility bills.”
The EPA calculates that 60 applicant organisations nationwide will receive grants, generating $8bn in household electricity bill savings over the life of the program.
According to Biden, projects funded by the program will create 200,000 jobs and advance his Justice40 initiative, wherein 40% of the benefits of investments are directed to communities “marginalised by underinvestment and overburdened by pollution.”
This week’s announcement will further drive the fast-growing solar market in the US and supercharge the installation of large-scale solar projects. If you’re looking to gain a footprint in the US, take a look at Solar & Storage Live USA.
