"The E.P.A. said the fund will spur a clean energy transition in overlooked communities. Republicans called it a “greendoggle.”"

"When Marcus Jones and his business partner, Akunna Olumba, set out to open a pizzeria in Detroit, they spoke with banks about their green vision: solar panels on the roof, an energy-efficient tankless water heater and a rooftop system to capture storm water.

“The lenders thought we were crazy,” Mr. Jones said. Traditional banks were skeptical that such investments would yield a return, and few had ever issued loans for clean energy or efficiency measures. They told the restaurateurs that it simply was not done.

Instead, the pair connected with a so-called green bank, one of a growing number of entities that lend money to businesses and individuals for equipment or technology that reduces the pollution driving climate change.

The movement will get a $20 billion infusion from the Biden administration on Thursday in what Vice President Kamala Harris calls “the largest investment in financing for community-based climate projects in our nation’s history.”"

Lisa Friedman reports for the New York Times April 4, 2024. [2]

SEE ALSO:

"America’s New High-Risk, High-Reward $20 Billion Climate Push" (Washington Post) [3]

"EPA Awards $20 Billion In Green Bank Grants For Clean Energy Projects Nationwide" (AP) [4]