New Grants Awarded to Support Renewable Energy and Energy Efficiency Financing

New Grants Awarded to Support Renewable Energy and Energy Efficiency Financing – NHSSF among OFN awardees

By Roland Kamara | Associate, Member Relations, OFN

From Appalachian coal country to the Mississippi Delta, 24 CDFIs will receive grants to bring climate-smart financial products to their communities


Community development financial institutions (CDFIs) have tremendous capacity to address the energy and environmental challenges facing economically distressed communities.

Low-income communities are often those that are also most impacted by our changing climate. These are the same markets served by CDFIs: flood prone areas like New Orleans 9th ward, manufactured housing communities impacted by extreme heat in the Southwest, farmworkers and rural communities displaced by wildfires in California, coastal communities of color in Florida and along the Gulf Coast — all communities served by mission lenders working to address the impacts of climate change.

On December 7, Opportunity Finance Network (OFN) announced the latest recipients of the Renewable and Energy Efficiency Financing Grant. Twenty-four member CDFIs will receive awards of $50,000 to $200,000, for a total of $2.9 million. The funding provides lending capital or loan loss reserves for renewable and energy-efficiency financing programs.

Among the awardees is a project in Northern Kentucky that will provide patient and affordable capital, combined with technical assistance, to support energy efficiency upgrades for commercial projects. In New Orleans, the grant funding will provide cash to low- and middle-income contractors to take on more green infrastructure projects. Another project, national in scope, will finance solar microgrids with battery backup at federally qualified health centers in low-income communities.

With their specialized expertise in reaching markets underserved by mainstream finance, CDFIs are ideally positioned to finance projects that reduce greenhouse gas emissions. OFN has previously awarded more than $2.3 million to 26 member CDFIs through this grant program.


2022 Renewable and Energy Efficiency Financing Grantees


Visit OFN’s website to learn more about the Renewable and Energy Efficiency Financing Grant and see the complete list of awardees.

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