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Greenhouse Gas Reduction Fund (GGRF)
The Inflation Reduction Act authorized the U.S. EPA to implement the Greenhouse Gas Reduction Fund (GGRF), a $27 billion investment to mobilize financing and private capital to combat the climate crisis and ensure American economic competitiveness. The GGRF will deliver lower energy costs and economic revitalization to communities, particularly those that have historically been left behind. Through the GGRF program, the EPA will allocate the fund through three competitions: Solar for All, National Clean Investment Fund (NCIF), and the Clean Communities Investment Accelerator (CCIA).
Through these competitions, the fund aims to scale deployment of clean technologies nationally, build community clean financing capacity locally, and spur adoption of clean distributed solar energy in disadvantaged communities in order to achieve three broad objectives:
- Reduce greenhouse gas (GHG) emissions and other air pollutants.
- Deliver the benefits of greenhouse gas- and air pollution-reducing projects to American communities, particularly low-income and disadvantaged communities.
- Mobilize financing and private capital to stimulate additional deployment of greenhouse gas and air pollution reducing projects.
The Office of Climate and Energy (OCE) submitted the state of Michigan’s application for the Solar for All Competition that will support deploying residential and community solar projects in Michigan’s disadvantaged communities.
Additionally, the OCE is working to develop partnerships with entities applying for the NCIF and CCIA to complement the state’s Solar for All strategy. These partnerships will help maximize the funds coming to the state from the GGRF by addressing additional financial barriers to meet the goals of the GGRF.