EIERA - Environmental Improvement and Energy Resources Authority (original) (raw)

Energy Financing Programs Under Development

The U.S. Environmental Protection Agency announced on April 22, 2024 the State Environmental Improvement and Energy Resources Authority (EIERA) has been selected to receive 156,120,000throughtheSolarforAllgrantcompetitiontodeveloplong−lastingsolarprogramsthatenablelow−incomeanddisadvantagedcommunitiestodeployandbenefitfromdistributedresidentialsolar.Thisawardispartofthehistoric156,120,000 through the Solar for All grant competition to develop long-lasting solar programs that enable low-income and disadvantaged communities to deploy and benefit from distributed residential solar. This award is part of the historic 156,120,000throughtheSolarforAllgrantcompetitiontodeveloplong−lastingsolarprogramsthatenablelow−incomeanddisadvantagedcommunitiestodeployandbenefitfromdistributedresidentialsolar.Thisawardispartofthehistoric27 billion Greenhouse Gas Reduction Fund, which was created under the Inflation Reduction Act to lower energy costs for families, and create good-quality jobs in communities that have been left behind. Once the agreement with EPA is finalized, we will be hiring a consultant to assist in the design and rollout of the program. EPA allows for up to a year for planning and design; however, we hope to have the program in place prior to that.

Missouri’s program will reduce pollution statewide, bolster resilient and healthy communities, and ensure meaningful energy-saving benefits are delivered to the state. In doing so, EIERA will provide a combination of forgivable loans to enable solar adoption without the long-term repayment obligations associated with traditional loans; low-interest loans through a revolving loan fund that will continue to increase the state’s solar capacity and impact in disadvantaged communities long after the program period ends; and the mobilization of financing and private capital into solar projects, facilitating market transformation for clean technologies.

There will be many details to iron out and significant reporting requirements to allow for, but we are looking forward to getting this program up and running. Stay tuned to our website for further details in the coming months.

Our Programs

Independent Registered Municipal Advisor Disclosure Certificate (06/30/24)