The Administration continues to prioritize clean energy and economic growth with the allocation of up to $500 million from the Inflation Reduction Act. The U.S. Department of Agriculture (USDA) plans to utilize this funding to increase the availability of domestic biofuels, providing Americans with cleaner fuel options and fostering economic benefits for rural communities.
USDA Secretary Tom Vilsack emphasized the historic significance of President’s Inflation Reduction Act in expanding clean energy, lowering costs, and building a thriving economy. By enhancing the accessibility of homegrown biofuels, the USDA aims to strengthen energy independence, create new market opportunities, and generate good-paying jobs in the agricultural sector.
Through the Higher Blends Infrastructure Incentive Program (HBIIP), USDA has already made progress by awarding $25 million in infrastructure project funding. This initial investment supports 59 projects focused on expanding the use and availability of higher-blend biofuels.
USDA also announced that starting in July, it will accept applications for $450 million in grants through HBIIP. These grants aim to reduce ongoing transportation, fuel and distribution costs by facilitating the installation and upgrading of biofuel infrastructure such as pumps, dispensers and storage tanks.
The awarded projects showcased a diverse range of infrastructure improvements, including dispenser and storage tank replacements in Iowa, upgrades to a fueling station in Minnesota, and the installation of bioheat and biodiesel storage tanks in New York.
These funding initiatives align with President Biden's Investing in America agenda, focusing on rebuilding infrastructure, promoting private-sector investments, and advancing clean energy solutions to tackle climate change.
USDA's commitment to reducing greenhouse gas emissions and supporting rural electrification further contributes to a more sustainable and equitable future. By providing loans, grants, and infrastructure improvements, USDA aims to enhance economic opportunities, foster community development, and ensure access to essential resources for millions of Americans in rural areas.
Source : wisconsinagconnection