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Powering Affordable Clean Energy (PACE) Program
- Currently Closed
Open Date:
7/10/2023
Close Date:
9/29/2023
Upcoming Milestones:
Eligible Recipients:
- Cooperative
- Educational Institution
- Local Government
- Native/Tribal Entity
- Non-profit
- Private Sector
- Public Utility Entity
- State Government
Program Purpose:
- Energy Infrastructure
Reserved for Energy
Communities?
No
Bureau/Office
Rural Development
Funded by:
U.S. Department of Agriculture
Overview
The Powering Affordable Clean Energy (PACE) program is part of the Inflation Reduction Act. With $1 billion in funding, PACE helps make clean, affordable, and reliable energy accessible to the people of rural America. Under PACE, USDA Rural Development’s Rural Utilities Service (RUS) will forgive up to 60 percent of loans for renewable energy projects that use wind, solar, hydropower, geothermal, or biomass, as well as for renewable energy storage projects.
Related Resources
Additional information is available on the Resources page.Funding Details
Funding Source:
- Inflation Reduction Act (IRA)
Funding Type:
Loan
Total Amount Available:
$1,000,000,000
Limit per Applicant:
$100,000,000
Estimated Awards:
Applicant Guidance
PACE overview and guidelines.