Fact Sheet: The Greenhouse Gas Reduction Fund (GGRF)
The Greenhouse Gas Reduction Fund (GGRF) is part of the 2022 clean energy investments passed by Congress in the Inflation Reduction Act. It was specifically designed to provide access to capital for clean energy projects that lower energy bills, create jobs, reduce health-harming pollution, and help jumpstart American manufacturing, including in low-income and disadvantaged communities that otherwise struggle to finance and build such projects.
The program works with nonprofits that have relationships and experience in communities that the federal government doesn’t, to help deliver benefits to those communities in ways only those organizations know how.
The $27 billion is divided into three distinct programs:
- National Clean Investment Fund (NCIF) – $14 billionThe NCIF provides intentionally flexible financing for businesses and community lenders to invest in zero-emission projects across the United States. Following a rigorous application, review, and revision process, NCIF funds were obligated to three grant recipients in 2024: Climate United Fund, Coalition for Green Capital, and Power Forward Communities. While each recipient’s work plan is different, all three will deliver accessible, affordable financing for clean technology projects nationwide, in partnership with private-sector investors, developers, community organizations, and more.Coalition partners of the three grantees include trusted, well-established organizations like Enterprise Community Partners and Self Help Federal Credit Union, and over a dozen established state and local green banks, and more.
- Clean Communities Investment Accelerator (CCIA) – $6 billionThe CCIA program provides funding and technical assistance to community lenders in low-income and disadvantaged communities that are not otherwise able to access capital for clean energy project deployment. Following a rigorous application, review, and revision process, CCIA funds were obligated to five grant recipients in 2024: Opportunity Finance Network, Inclusiv, Justice Climate Fund, Appalachian Community Capital, and Native CDFI Network. The vast majority of the CCIA funds are going to longstanding nonprofit Community Development Financial Institutions (CDFI) or CDFI intermediaries.
- Solar For All – $7 billionSolar For All funds low-income solar programs that will enable over 900,000 households to benefit from distributed solar energy and will save low-income Americans $350 million annually. Following a competition review process, Solar For All grants were awarded to 49 states, six Tribes, and five multistate initiatives that span the U.S. View all recipients here.
Collectively, NCIF and CCIA grantees will mobilize $7 of private capital for every $1 of federal funds, turning $20 billion of public funds into $140 billion of public and private investment.