Biden to announce recipients of $7.3 billion in clean energy funding for rural electric cooperatives

The cooperatives cover 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 investment in rural electrification since the New Deal and is part of the President’s Invest in America agenda, which consists of reducing costs, creating jobs and providing new opportunities for communities and families across the country,” the White House said in a statement.

Agriculture Secretary Tom Vilsack said in a separate comment that the money will help small electric companies like Dairyland Energy Cooperative in Wisconsin upgrade to clean energy alternatives.

“This is a $573 million commitment that USDA is making using Inflation Reduction Act resources 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 energy facilities in its service area over the next 10 years, reducing the cost of electricity for its customers by 42%.

“I think this is an opportunity to talk about the extraordinary investment the Biden-Harris administration has made in rural America as part of the president’s Invest in America initiative,” Vilsack said.