Biden administration pledges $11 billion for rural renewable energy projects.

The Biden administration has announced nearly $11 billion in grants and loans to help rural energy and utility providers bring affordable clean energy to their communities across the US. The funding will provide rural areas with a more dependable power grid and help lower future energy costs. Rural electric cooperatives, renewable energy firms, and electric utilities can apply for funding through two programs under President Biden's Inflation Reduction Act. The new money represents the single largest federal investment in rural electrification since President Franklin D. Roosevelt signed the Rural Electrification Act into law in 1936.