Greenhouse Gas Reduction Fund: National Clean Investment Fund

The Inflation Reduction Act (IRA) amends the Clean Air Act to include Section 134 (42 USC § 7434), which authorizes the EPA to make competitive grants under the National Clean Investment Fund. The National Clean Investment Fund is currently funded by

The National Clean Investment Fund will provide grants to national nonprofit financing entities to create national clean financing institutions capable of partnering with the private sector to provide accessible, affordable financing for tens of thousands of clean technology projects nationwide.

"Eligible recipients," as that term is defined in Clean Air Act Section 134(c)(1), are eligible for grants from this competition. Section 134(c)(1) defines "eligible recipient" as a nonprofit organization that (A) is designed to provide capital, leverage private capital and provide other forms of financial assistance for the rapid deployment of low- and zero-emission products, technologies, and services; (B) does not take deposits other than deposits from repayments and other revenue received from financial assistance using the grant funds; (C) is funded by public or charitable contributions; and (D) invests in or finances projects alone or in conjunction with other investors. Further information is provided in the NOFO about the specific criteria EPA will use to determine eligibility for funding under this program.

This program will have widespread benefits to residents of the United States in communities across the country through the deployment of projects that reduce or avoid greenhouse gas emissions and other forms of air pollution.

Please refer to the Notice of Funding Opportunity (EPA-R-HQ-NCIF-23) for information on how assistance may be used under this program, or if there are any funding use restrictions.This program makes Federal awards on a discretionary basis. A discretionary award means an award in which the Federal awarding agency, in keeping with specific statutory authority that enables the agency to exercise judgement ("discretion"), selects the recipient and/or the amount of Federal funding awarded through a competitive process or based on merit of proposals. A discretionary award generally may be selected on a non-competitive basis, as appropriate but for this program competition is required by statute. For further information, please contact the Headquarters or regional office.

Please refer to the Notice of Funding Opportunity (EPA-R-HQ-NCIF-23) for information on how assistance may be used under this program, or if there are any funding use restrictions.This program makes Federal awards on a discretionary basis. A discretionary award means an award in which the Federal awarding agency, in keeping with specific statutory authority that enables the agency to exercise judgement ("discretion"), selects the recipient and/or the amount of Federal funding awarded through a competitive process or based on merit of proposals. A discretionary award generally may be selected on a non-competitive basis, as appropriate but for this program competition is required by statute. For further information, please contact the Headquarters or regional office.

Grant agreements began in 2024 and will end between 2027 and 2031.

Preapplication coordination is required. Environmental impact information is not required for this program. This program is excluded from coverage under E.O. 12372. Regarding pre-application assistance with respect to competitive funding opportunities under this assistance listing, EPA will generally specify the nature of the pre-application assistance, if any, that will be available to applicants in the NOFO. For additional information, contact the individual(s) listed in the NOFO.

The evaluation and selection criteria for competitive awards under this assistance listing will be described in the NOFO.

For competitive awards, EPA will review and evaluate applications in accordance with the terms, conditions, and criteria stated in the NOFO. Competitions will be conducted in accordance with EPA's Policy for the Competition of Assistance Agreements (https://www.epa.gov/grants/epa-order-57005a1-epas-policy-competition-assistance-agreements).

The deadline for submission of applications, anticipated selections and anticipated award dates are communicated in the NOFO.

Assistance agreement competition-related disputes will be resolved in accordance with the dispute resolution procedures published in 70 FR (Federal Register) 3629, 3630 (January 26, 2005). Copies of these procedures may also be found at https:/www.epa.gov/grants/grant-competition-dispute-resolution-procedures. Disputes relating to matters other than the competitive selection of recipients will be resolved under 2 CFR 1500 Subpart E - Disputes, as applicable.