Show Me the Money: Beyond Hydro Incentive Payments and Tax Credits — Additional Federal Funding Sources for Project Owners, Project Developers, and Technology Developers

Beyond the hydro-specific financial incentive provisions in the Infrastructure and Investment Jobs Act (IIJA) and the Inflation Reduction Act (IRA), there are billions of dollars in additional federal funding sources and loan programs for clean energy. These funds and loans, while not hydro specific, certainly are applicable for funding dam repairs, infastructure improvements, small hydro, and marine energy.

These include:
— U.S. Department of Agriculture – Programs include: Affordable Clean Energy (ACE); Empowering Rural America (new ERA); and Rural Energy for America (REAP). REAP offers guaranteed loans and grants for renewable energy systems and energy efficiency improvement, including hydropower below 30 MW and ocean (tidal, current, thermal) generation.

— U.S. Army Corps of Engineers – Corps Water Infrastructure Financing Program (CWIFP): offers up to $7.5 billion in loans for maintaining, upgrading, and repairing dams for any non-federal borrowers. The program is open to projects or bundles of projects that have a total cost of $20 million or more.

— The U.S. Department of Energy’s Loan Programs Office is offering $5 billion through 2026 with a total cap on loans up to $250 billion for projects that retool, repower, repurpose, or replace energy infrastructure at hydropower facilities. The loans are authorized through the Inflation Reduction Act (IRA) Title 17, Sections 1703 and 1706.

Presenter Information

Jeff Leahey

Jeff Leahey
Vice President
SMI
Moderator


Christoper McLean

Christoper McLean
Assistant Administrator for Electric Programs, Rural Development
U.S. Department of Agriculture (USDA)
Speaker


Kat Jarl

Kat Jarl
Senior Program Manager, Corps Water Infrastructure Financing Program
U.S. Army Corps of Engineers
Speaker


Ariane Benrey

Ariane Benrey
Consultant, Loan Programs Office (LPO)
U.S. Department of Energy
Speaker

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