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U.S. EPA To Set Up $27 Billion Green Bank

0 shares Share 0 Tweet 0 Pin 0 Share 0 The Environmental Protection Agency (EPA) is in the process of designing a $27 billion green bank that will offer grants to disadvantaged U.S. communities that wish to develop… Read More

The Environmental Protection Agency (EPA) is in the process of designing a $27 billion green bank that will offer grants to disadvantaged U.S. communities that wish to develop low- or zero-emission projects. 

Under the official name The Greenhouse Gas Reduction Fund, the green bank is part of the Biden administration’s strategy for combating climate change and environmental injustice. 

According to Reuters, EPA Administrator Michael Reagan said that the fund would infuse capital in parts of the country that struggle to attract clean energy and transportation investments. 

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"It's exciting to know that we are creating a program that will infuse billions of dollars of capital into local communities that will have a direct impact on energy efficiency programs, community solar programs or programs that they know will reduce pollution and create jobs."

The fund is a scaled-up version of roughly two-dozen green banks that already exist across the United States, in places like the State of Michigan and Montgomery County, Maryland. 

Such programs already help disadvantaged communities install residential solar and heat-pump installations, as well as electric vehicle chargers. 

We hope that a nationwide green fund will be even more effective in bringing the benefits of clean technology to those who need it the most. 


Nikola uses his background in electrical engineering to break down complex sustainability topics for GreenCitizen's readers. He is a firm believer in environmental conservation, which he practices daily through recycling and home-grown food. He enjoys hiking, engaging in white-water sports, and collecting pocket knives.

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