Overview: The NCIF program provides funding to nonprofits to mobilize private capital to create clean financing instruments that fund tens of thousands of projects.

Prime recipients: 3 national nonprofits, announced in April 2024. Funding is expected to be available in July.

Investment amount: $14 billion

Priority project categories:

– Distributed energy generation and storage

– Net-zero emissions buildings

– Zero-emissions transportation

Overview: The CCIA program funds selected industry-focused hub nonprofit recipients to develop a network of community lenders to provide access to capital.

Prime recipients: 5 national nonprofits announced in April 2024.

Investment amount: $6 billion

Priority project categories:

– Distributed energy generation and storage

– Net-zero emissions buildings

– Zero-emissions transportation

Overview: The Solar For All program provides funding to drive solar development in low-income and disadvantaged communities throughout the U.S.

Prime recipients: 60 states, tribal governments, municipalities, and nonprofits announced in April 2024. Funding is expected to be available this summer.

Investment amount: $7 billion

Priority project categories:

– Residential rooftop solar

– Residential-serving community solar

– Associated storage

– Enabling upgrades

Each prime recipient is potentially responsible for administering billions of dollars of federal funding. In so doing, they must not only fully comply with 2 CFR Part 200 – Uniform Guidance for Federal Awards, but also Build America, Buy America, prevailing wage, Justice 40, and other program-specific requirements. 

Prime recipients must stand up processes and technology to support application selection and reporting, data management and security, and program governance and transparency. Given the headlines regarding Paycheck Protection Program (PPP) fraud, we expect a robust compliance and oversight effort to protect the nation’s investment. The prime recipient must make sure that their direct investment strategy, and the above-established procedures, are fully supported by sub-recipients and the project recipients.

Sub-recipients might receive funding from multiple prime recipients, and if so would need to comply with the procedures established by each prime recipient. Further, as they collaborate with private capital to create financing leverage and fund projects, they must make sure that project recipients are following the established procedures for the appropriate prime funding source. 

Sub-recipients must have robust project financing and management programs. They need to take steps to make certain that the portfolio of projects being funded delivers on the prime’s plans, potentially including climate and energy, equity and community, capitalization funding, and market transformation plans. They may be required to monitor project recipients, and they must report on the progress and impact of their portfolio of funded projects.