Biden to Reveal $7.3 Billion in Clean Energy Funding for Rural Electric Cooperatives

Cooperatives operate in 23 states: Arizona, California, Colorado, Florida, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Montana, Nebraska, New Jersey, New Mexico, Nevada, North Dakota, Ohio, Pennsylvania, South Dakota, Texas, Wisconsin and Wyoming.

“The investment announced today is the largest in rural electrification since the New Deal and is consistent with the President’s Investing in America agenda, which lowers costs, creates jobs, and provides opportunity for communities and families across the country,” the White House said in a statement.

Agriculture Secretary Tom Vilsack said in separate comments that the money would help small energy companies like Dairyland Power Cooperative in Wisconsin transition to clean, alternative energy sources.

“This is a $573 million commitment that USDA is making from Inflation Reduction Act funds in the form of a grant of nearly $471 million and a loan of nearly $102 million,” Vilsack said.

Vilsack said Dairyland Power will have the opportunity to purchase and finance four solar and four wind facilities in its service area over the next 10 years, which will reduce electricity costs for customers by 42%.

“I think this is an opportunity to talk about the extraordinary investments that the Biden-Harris administration has made in rural America through the president’s Investing in America initiative,” Vilsack said.