Energy Infrastructure Reinvestment Program
To provide loans to retool, repurpose, or replace electric or fossil fuel energy infrastructure that has ceased operations, or to enable operating infrastructure to avoid, reduce, utilize or sequester air pollutants or greenhouse gas emissions.
Applicant and/or Project Eligibility Requirements
Applies to electric transmission or generation facilities; fossil fuel facilities; and facilities that use petroleum fuels or petrochemical feedstocks.
The EIR reinvests in energy communities while reducing carbon emissions. The EIR will support the low-carbon transition of a broad range of projects — any type of energy infrastructure related to electricity generation and transmission, as well as all fossil fuels and petrochemicals. The program has the potential to help decarbonize not just the electricity sector, but the entirety of fossil infrastructure in this country, both through replacing polluting sources with cleaner alternatives, and through reducing pollution in harder-to-abate sectors. Learn more: https://rmi.org/important-clean-energy-policy-youve-never-heard-about/
The equitable and cost-effective transition to a cleaner grid requires retooling and repurposing of outdated facilities with prime location and capacity, which are often located in or near LMI communities and communities of color. The reduction of air pollutants and greenhouse gas emissions from previously and currently operating facilities in these communities is a significant part of the Justice40 Initiative. Moreover, the transition from coal to clean energy risks devastating communities historically reliant on the jobs and economic activity brought by investment and dependence on fossil fuels. Leaving coal miners, plant operators, and their surrounding communities without recourse is unjust and will not lead to a sustainable and equitable transition.
Learn more about how your community or utility could consider leveraging this program here: https://rmi.org/important-clean-energy-policy-youve-never-heard-about/
This financing was allocated by amending Title XVII of the Energy Policy Act of 2005 by inserting the section "Energy Infrastructure Reinvestment Financing" after section 1705 (42 U.S.C. 16516).