PACE loans enhance energy security, lower costs
The U.S. Department of Agriculture, under the guidance of Secretary Tom Vilsack, has launched a transformative $78.3 million funding effort via the Powering Affordable Clean Energy (PACE) program. This initiative is part of a broader commitment to ensure that rural America is not left behind in the clean energy transition.
This substantial investment, derived from the Inflation Reduction Act, is set to bolster rural economies by reducing energy costs and enhancing reliable access to clean energy.
The funding supports diverse projects, including advanced solar and hydroelectric systems in states from Maryland to Washington and as far afield as American Samoa.
Secretary Vilsack emphasized the strategic importance of these investments: “Under the leadership of the Administration, USDA has made historic investments in rural America to create a more affordable and sustainable future.” This statement underscores the administration’s commitment to enhancing national energy security and environmental health.
One of the highlighted projects is in Vermont's Town of Stowe, where a $6 million investment will improve renewable energy generation and storage, powering local households and advancing regional sustainability.
The broader impact of the PACE program includes a wide array of projects, with 32 additional applications moving forward under its auspices, demonstrating the USDA’s ongoing commitment to integrating rural areas into the nation's clean energy framework.
These initiatives are part of the USDA’s effort to support infrastructure improvements and sustainable development in rural, Tribal, and high-poverty areas across the United States.
More details about the program and its recipients can be found at www.usda.gov, highlighting the scope and significance of these federal investments in rural energy solutions.