A new program will fund solar panels, heat pumps, and other measures aimed at reducing emissions, improving air quality and resident health, and reducing heating and cooling costs.
The U.S. Department of Housing and Urban Development (HUD) is funding energy efficiency retrofits and equipment for HUD-assisted multifamily properties through a new program known as the Green and Resilient Retrofit Program (GRRP), announced a press release published on May 11.
The Inflation Reduction Act provided HUD with $837.5 million in grant and loan subsidy funding and $4 billion in loan commitment authority for this new program. The law also includes $42.5 million for a new HUD initiative launching later this summer to collect and assess energy and water usage data from HUD-assisted multifamily housing properties to better target opportunities to save energy and water, cut costs, and reduce emissions.
According to the press release, “Building owners will be able to invest in technologies, such as solar panels, heat pumps, wind-resistant roofing, insulation, low embodied carbon materials, and other measures that will reduce greenhouse gas emissions and make properties healthier and safer for residents in the face of more severe weather and a changing climate.”
The press release notes that “GRRP is the first HUD program that simultaneously invests in energy and water efficiency, greenhouse gas emissions reductions, clean-energy generation, and climate resilience strategies in multifamily housing.”
Read the full story: HUD ANNOUNCES MORE THAN $837 MILLION FROM PRESIDENT BIDEN’S INVESTING IN AMERICA AGENDA TO IMPROVE HOUSING QUALITY AND REDUCE ENERGY COSTS FOR UNDERSERVED COMMUNITIES
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