National Clean Investment Fund (NCIF)

Background
President Biden’s Inflation Reduction Act authorized the U.S. Environmental Protection Agency to implement the Greenhouse Gas Reduction Fund, creating a historic $27 billion investment in communities across the country. This bold investment will deploy clean energy, combat the climate crisis, improve health outcomes, lower energy costs, and create high-quality jobs for Americans while strengthening the country’s economic competitiveness and ensuring energy security.

Grant Details
The National Clean Investment Fund competition will provide grants to 2–3 national nonprofit financing entities to create national clean financing institutions capable of partnering with the private sector to provide accessible, affordable financing for tens of thousands of clean technology projects nationwide. The competition aims to deploy much-needed capital for clean technologies into communities across the country, especially in communities that have long faced barriers accessing capital and that most need the benefits of clean technology projects. The competition requires each grantee to expend at least 40% of funds for providing financial assistance in low-income and disadvantaged communities.

Eligibility Requirements
Eligible recipients are nonprofit organizations designed to provide capital, leverage private capital, and provide other forms of financial assistance for the rapid deployment of low- and zero-emission products, technologies, and services. Projects eligible for financial assistance include those that reduce or avoid greenhouse gas emissions or other forms of air pollution in partnership with the private sector or assist communities in reducing or avoiding greenhouse gas emissions and other forms of air pollution.

Period of Performance
Anticipated Start of Period of Performance is by July 2024.

Grant Value
$14 billion National Clean Investment Fund competition

Place of Performance
Communities across the United States