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The U.S. Department of Energy (DOE) has announced a significant investment in energy efficiency, awarding $66 million to 17 states and territories through the Energy Efficiency Revolving Loan Fund (RLF) Capitalization Grant Program. This funding, part of the Biden-Harris Administration’s Investing in America agenda and supported by the Bipartisan Infrastructure Law, is designed to enhance energy efficiency in buildings and stimulate local economies.
The RLF program provides critical financial resources to establish or expand revolving funds, enabling states and territories to issue loans and grants for energy efficiency audits, upgrades, and retrofits. The goal is to support energy-efficient improvements in public buildings, residential properties, and commercial facilities, helping to reduce energy costs and advance clean energy initiatives.
U.S. Secretary of Energy Jennifer M. Granholm highlighted the program’s impact, stating, “Increased opportunities for low-cost financing will help states and territories expand access to money-saving clean energy tools that will benefit the residential, commercial, and public sectors. We are excited to see states and territories take advantage of targeted and impactful financing options to transform their communities.”
The RLF program is expected to leverage private capital, with each federal dollar potentially attracting up to $20 in private investment, according to a study by Lawrence Berkeley National Laboratory. This approach not only accelerates the adoption of clean energy but also supports local economies and job creation.
This round of funding marks the third wave of awards from the RLF Capitalization Grant Program, with plans for additional announcements later this year. In total, the program will provide $242 million to support energy efficiency projects, with funds allocated to both general and priority states as defined by the Bipartisan Infrastructure Law.
The awarded states and territories include:
Arizona: $1,690,280 for energy efficiency projects in the commercial sector, focusing on low-income and disadvantaged communities.
Georgia: $2,453,810 for a new residential revolving loan fund benefiting low-income residents.
Iowa: $7,068,920 for a new revolving loan fund targeting multi-family housing and upgrading heating systems.
Puerto Rico: $1,070,490 for a loan loss reserve fund supporting residential energy efficiency, solar, and battery storage.
Texas: $22,365,890 for a revolving loan fund and free energy audit services for community centers.
U.S. Virgin Islands: $576,170 for a loan loss reserve fund and interest rate buydowns for energy projects.Other recipients include Colorado, Delaware, Kansas, Maine, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, Oklahoma, and Rhode Island.
The DOE will continue to support recipients with technical assistance, including resources from the RLF Resource Library to help navigate federal requirements and maximize the impact of their projects. These investments align with the President’s climate goals of reducing emissions by 50 to 52 percent by 2030 and achieving a net-zero economy by 2050. |
