President Joe Biden plans to announce $7.3 billion in Agriculture Department grants Thursday to finance clean energy projects operated by rural electric cooperatives.
The president is expected to participate in an event at the Vernon Electric Cooperative in the battleground state of Wisconsin to promote the funding, which is supported by the 2022 Inflation Reduction Act. It is the largest investment in rural electrification since the New Deal, the White House said in a fact sheet.
“We are supporting a more prosperous future for rural communities by speeding up the transition to clean energy while at the same time keeping monthly bills low and investing in the American workforce with new jobs and apprenticeships,” said Agriculture Secretary Tom Vilsack in a statement. “One in five rural Americans will benefit from these clean energy investments.”
The $7.3 billion will go to 16 nonprofit electric cooperatives and incentivize more than $20 billion in private sector funding, according to the White House. The grants are expected to affect five million households across 23 states.
