U.S. President Joe Biden announces $7 billion in grants for low-income households to install residential solar power.
President Biden highlighted the progress made in tackling the climate crisis, cutting costs, and creating jobs. The grants will come from the Environmental Protection Agency’s Solar for All grant competition, funded by the $27 billion Greenhouse Gas Reduction Fund.
The grants will reach over 900,000 households in low-income and disadvantaged communities, saving households over $350 million in electricity costs annually.
The program will also avoid more than 30 million metric tons of carbon pollution over 25 years.
U.S. solar installations surged in 2023, with solar accounting for over 50% of new electricity capacity for the first time.
However, recent policy changes in California have impacted the residential solar market. Despite this, the Biden Administration’s investment aims to promote solar energy adoption and address climate change.
