EPA’s Greenhouse Gas Reduction Fund Is Powering Billions In Economic Growth
Taking funds away from community organizations wastes an opportunity to add jobs and cut energy bills
The U.S. Environmental Protection Agency’s Congressionally enacted Greenhouse Gas Reduction Fund has become a political target of the Trump administration, which froze $20 billion in investments allocated to help low-income and disadvantaged communities add jobs and cut energy bills.
The EPA has accused GGRF of fraud and abuse, even though a federal judge ruled it must release the funds since EPA failed to provide evidence of its claims. But new analysis shows that EPA breaching its contracts with community groups by freezing GGRF funds harms Americans by taking away hundreds of billions worth of economic opportunity.
Energy Innovation modeling of the full $24 billion GGRF funding reveals it would pay outsized dividends to the nation as a whole and to individual communities that need it most:
Generate $65.5 billion in total investment across America’s economy
Save consumers $52 billion in energy costs over the next 20 years
Increase wages earned by workers between $21.3-$23.9 billion by 2031
Create an average of 36,00-41,000 more jobs annually, with roughly half of those jobs in manufacturing and construction.
Add enough new solar energy projects to power up to 2.2 million homes per year
These economic benefits come from GGRF’s combined focus on stimulating demand for American-made technologies, kickstarting projects that hire workers to build clean energy in their own communities, and cutting energy bills by getting consumers and companies off the fossil fuel rollercoaster.
For instance, the $7 billion Solar For All program funds 60 grantees financing low-income residential solar projects and requires every project save households a minimum of 20 percent off their energy bills.
Most projects across the GGRF funding allocation comes with prevailing wage requirements to create quality jobs that can help support families, and GGRF grantees must also demonstrate how they will promote workforce development in their local communities through the projects.
These funds have already fueled economic growth like Arkansas’ largest commercial solar array that will create 1,500 jobs and cut energy costs $120 million, nearly 200 units of energy-efficient affordable housing in Oregon and New York, and an affordable electric truck leasing program for small commercial fleets and independent operators.
82 percent of Americans are already worried about a looming recession while 34 percent have had to cut back or skip necessary expenses to pay energy bills. Families simply can’t afford another hit to their budgets right now.
Destroying a program that cleans our air and secures private investment blocks America’s chance to build stronger communities, throwing away good jobs and forcing consumers to pay higher bills.
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