Biden making $20 billion available from ‘green bank’ for clean energy projects

By MATTHEW DALY
Associated Press

WASHINGTON (AP) — The Biden administration is making available $20 billion from a federal “green bank” for clean energy projects such as residential heat pumps, electric vehicle charging stations and community cooling centers. Two programs, worth $14 billion and $6 billion, respectively, will offer competitive grants to nonprofits and other groups to invest in clean energy projects, with a focus on disadvantaged communities. Vice President Kamala Harris, Environmental Protection Agency Administrator Michael Regan and other officials announced the grant competitions Friday at a historically black university in Baltimore. Congress created the green bank, formally known as the Greenhouse Gas Reduction Fund, in last year’s climate law.