Biden Announces $7.3 Billion for Rural Clean Energy Projects, $1.1B to Colorado

Sep 5, 2024, 07:09 PM

President Joe Biden has announced a $7.3 billion investment in rural clean energy projects across nearly two dozen states. This funding, part of the Inflation Reduction Act, aims to lower energy costs for families, farms, ranches, and small businesses while driving opportunities in rural communities. The initiative will support 16 rural electric cooperatives, leveraging over $29 billion in co-op and private capital for clean energy investments. Biden's administration touts this as the most significant investment in rural electrification since FDR's New Deal. Colorado will receive $1.1 billion from this investment. The announcement comes as Biden seeks to address energy price concerns in battleground states, with former President Donald Trump pledging to halve energy prices if elected. This pledge comes amid a national debt of $35 trillion.