$6 Billion Decarbonization Assistance Offered by DOE; Plaskett Encourages Virgin Islands Industry Players to Apply
Energy-intensive and high-emitting industries now have the chance to access federal funds for decarbonization initiatives.
The Department of Energy announced the $6 billion Industrial Demonstrations Program earlier this month. Delegate to Congress Stacey Plaskett emphasized in a statement on Tuesday that the Virgin Islands is eligible for equal funding as the mainland.
According to Ms. Plaskett, the program “aims to support projects that will decarbonize the highest-emitting industries with the most significant impact on our planet, establish the United States as a leader in clean manufacturing, and help achieve our climate objectives.”
The program is part of President Joseph Biden’s bipartisan Infrastructure Law and Inflation Reduction Act, targeting industries such as iron, steel, aluminum, cement, and concrete, as well as other energy-intensive industrial processes.
Both for-profit organizations and owners/operators of domestic, non-federal non-power industrial or manufacturing facilities engaged in energy-intensive industrial processes are eligible for decarbonization funding, as stated by the congresswoman.
Ms. Plaskett encourages qualifying local entities to apply for the assistance, which may come in the form of grants, rebates, direct loans, or cooperative agreements.
The congresswoman expressed her satisfaction that “the allocated funds will help strengthen our industrial infrastructure and provide investments and resources needed to safeguard our economic prosperity.”