USDA Opens $1B PACE Program
Announcement Type: Notice of Funding Opportunity (this program is not yet accepting applications)
Opportunity: USDA Powering Affordable Clean Energy (PACE) program
Overview and Eligible Uses: The PACE program aims to make clean energy more affordable for rural Americans. PACE can finance commercially available wind, solar, hydropower, geothermal, or biomass renewable energy projects as well as renewable energy storage projects.
Amount: A total of $1B in program funding is authorized. Loan sizes range between $1M and $100M
Award Type: Loans (partially forgivable, depending on type of community served)
Eligible Applicants: Eligible applicants are entities that generate electricity for resale to residents with at least 50 percent of the population served in communities with populations of 20,000 or fewer. A range of entity types, including states, corporations, municipalities, utility districts, nonprofits, and cooperatives, among others, are eliglble to apply.
Key Dates: Interested applicants must submit a Letter of Interest between June 30, 2023 and September 29, 2023.
Key Links:
Notice of Funding Opportunity (Federal Register)
For a full list of currently available grant programs under the Infrastructure Law and other helpful tools, take a look at our Helpful Resources page.
This tracker will continue to send updates when new funding opportunities are announced.