Empowering Rural America (New ERA) Program

The summary for the Empowering Rural America (New ERA) Program grant is detailed below. This summary states who is eligible for the grant, how much grant money will be awarded, current and past deadlines, Catalog of Federal Domestic Assistance (CFDA) numbers, and a sampling of similar government grants. Verify the accuracy of the data FederalGrants.com provides by visiting the webpage noted in the Link to Full Announcement section or by contacting the appropriate person listed as the Grant Announcement Contact. If any section is incomplete, please visit the website for the Rural Utilities Service, which is the U.S. government agency offering this grant.
Empowering Rural America (New ERA) Program: The New ERA Program provides Rural Utilities Service (RUS) with $9.7 billion in appropriated loan and grant funds under the Inflation Reduction Act (IRA). In keeping with the statutory authority for the program, RUS will utilize the New ERA funds to assist Eligible Entities to achieve the greatest reduction in Greenhouse Gas (GHG) emissions while advancing the long-term resiliency, reliability, and affordability of rural electric systems.As provided in Section 22004 of IRA, no one Applicant may receive an amount equal to more than 10 percent of the total $9.7 billion of budget authority appropriated under Section 22004, which equals $970 million. The Applicant's Portfolio of Actions may cost more than $970 million as long as the funded application uses less than $970 million in budget authority. Funds can be used to make energy efficiency improvements to eligible generation and transmission systems, to purchase, build, or deploy renewable energy, zero-emission systems, carbon capture storage systems, or to purchase renewable/ clean energy. The following types of financial assistance can be requested:• Loan: The interest rate for loans will be set either at the U.S. Treasury rate or at a fixed rate as low as 2 percent. Treasury interest rates are set at the time funds are drawn. A zero percent interest rate is available to refinance debt related to stranded fossil assets or for projects that serve predominantly distressed, disadvantaged, or energy communities (as defined in the funding notice).• Grant: Applicants can apply for a grant only that equals no more than 25 percent of the total project cost. Applicants would have to demonstrate the ability to meet the remaining 75 percent of the project cost.• Loan and Grant Combinations: Applicants can request loan and grant combination financing for proposed projects.• Loan Refinancing or Loan Modification: In addition to loan and grant combinations, applicants may propose to refinance debt related to a stranded fossil assets if the applicant utilizes the refinancing savings to fund eligible clean energy project(s).Letters of Interest will be scored and ranked on the greatest reduction in cost-per-unit measure of greenhouse gases. Projects must be reliable, resilient (able to recover quickly following an unexpected disruption), and affordable.
Federal Grant Title: Empowering Rural America (New ERA) Program
Federal Agency Name: Rural Utilities Service (USDA-RUS)
Grant Categories: Other (see text field entitled "Explanation of Other Category of Funding Activity" for clarification)
Type of Opportunity: Discretionary
Funding Opportunity Number: RUS-NEWERA-2023
Type of Funding: Grant
CFDA Numbers: 10.758
CFDA Descriptions: Information not provided
Current Application Deadline: September 15th, 2023
Original Application Deadline: September 15th, 2023
Posted Date: July 31st, 2023
Creation Date: July 31st, 2023
Archive Date: June 30th, 2024
Total Program Funding:
Maximum Federal Grant Award: $970,000,000
Minimum Federal Grant Award: $0
Expected Number of Awards:
Cost Sharing or Matching: Yes
Last Updated: July 31st, 2023
Category Explanation
Inflation Reduction Act (IRA)
Applicants Eligible for this Grant
Others (see text field entitled "Additional Information on Eligibility" for clarification.)
Additional Information on Eligibility
RUS will accept Letters of Interest from the following: An electric cooperative described in section 501(c)(12) or 1381(a)(2) of the Internal Revenue Code of 1986 and is or has been a RUS or Rural Electrification Administration (REA) electric loan borrower pursuant to the Rural Electrification Act of 1936 (RE Act) or is serving a predominantly Rural Area (or a wholly or jointly owned subsidiary of any the preceding listed such electric cooperatives).
Link to Full Grant Announcement
New ERA website
Grant Announcement Contact
Tasha Deardorff
Grantor
New ERA email box
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