US to invest $7.3b in clean energy projects

The Biden administration announced on Thursday a $7.3 billion investment to fund clean energy projects through the 2022 Inflation Reduction Act.

The initiative will support 16 rural electric cooperative projects aimed at reducing energy costs and improving reliability in rural areas.

The first project, allocating $573 million to Dairyland Power Cooperative, will develop solar and wind installations across Wisconsin, Iowa, Minnesota, and Illinois.

The White House said the projects would reduce greenhouse gas emissions by over 43 million tons annually and create more than 20,000 jobs.

Agriculture Secretary Tom Vilsack emphasised the impact on rural Americans, stating the investments would benefit one in five residents. Biden announced the funding in Westby, Wisconsin, alongside Vilsack.