Arkansas Advanced Energy Welcomes Intent for Over $93 Million
Little Rock, AR - The Arkansas Advanced Energy Foundation (AAEF) is proud to announce the Environmental Protection Agency's (EPA) intent to award $93.6 million to the state of Arkansas through the Solar for All program. This initiative is a strategic economic investment that will bring substantial fiscal benefits to rural Arkansans and contribute to the state's energy independence.
The official applicant for this transformative grant, HOPE (Hope Enterprise Corporation), partnered with AAEF to write the successful application and to work together towards the future implementation of the program. HOPE, a community development financial institution, has three program offices in Arkansas, where it has operated since 1995. HOPE’s mission is to strengthen the financial health and wealth of people in under-resourced Deep South communities.
“Solar for All represents a transformational opportunity for Deep South communities. Not only will people in historically under resourced areas realize savings from lower energy costs, they will also benefit from the jobs created to extend solar power into homes and community facilities. We look forward to working with EPA to advance a cleaner, more sustainable environment.”
"This is a significant economic development opportunity for Arkansas", said Lauren Waldrip, AAEF Executive Director. "By bringing these federal dollars back to our state, we are not only investing in our energy infrastructure but also in the economic well-being of our rural communities. This program will help us address the urgent need for more power generation and the deployment of distributed energy resources, which are essential for serving our rural areas effectively."
The organization's role in the program will focus on workforce development, creating quality jobs, and building a robust market for solar energy in Arkansas. AAEF will also convene stakeholders, including government entities, solar providers, and community organizations, to ensure the program's success and equitable access to its benefits.
“Arkansas stands at a pivotal moment to diversify and secure our energy portfolio, and ultimately enhance our energy independence and economic stability for our most vulnerable populations. This is an opportunity for policy makers to reflect on Arkansas’s current regulatory environment and hopefully make revisions that will allow our state to capitalize on this and other programs.”
The award is expected to have a monumental impact particularly in rural areas where energy costs can be a burden and access to reliable power is a challenge. The investment in this energy will not only provide immediate financial relief to low-income households but also contribute to long-term economic stability and growth.
HOPE is in the process of developing guidelines and working through next steps for the Arkansas Solar for All program. If you would like to stay informed of Arkansas’s Solar for All developments, please fill out the form available via the following link.
AAEF looks forward to collaborating with HOPE and its members to bring this program to fruition and remains committed to its role as a partner in this initiative. The EPA anticipates beginning to make awards in the fall of 2024.