skip to main content
skip to newscasts

Saturday, December 2, 2023

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

On World AIDS Day, New Mexico activists say more money is needed for prevention; ND farmers still navigate corporate land-ownership policy maze; Unpaid caregivers in ME receive limited financial grants.

view newscast page
play newscast audioPlay

Secretary of State Antony Blinken urges Israel to protect civilians amid Gaza truce talks, New York Rep. George Santos defends himself as his expected expulsion looms and CDC director warns about respiratory illness as flu season begins.

view newscast page
play newscast audioPlay

Congress has iced the Farm Bill, but farmer advocates argue some portions are urgent, the Hoosier State is reaping big rewards from wind and solar, and opponents react to a road through Alaska's Brooks Range, long a dream destination for hunters and anglers.

Missouri Electric Co-ops Poised to Benefit from Inflation Reduction Act

play audio
Play

Monday, September 26, 2022   

Within the Inflation Reduction Act are provisions to help rural electric co-ops in new ways.

Rural electricity generation often is structured as a cooperative nonprofit with member-owners, and any overpayment is returned to members. The structure meant co-ops were excluded from certain green-energy tax incentives available to for-profit producers.

The Inflation Reduction Act changed the model and includes direct-pay tax incentives for co-ops to deploy new energy technology. Additionally, the act includes a $9.7 billion grant and loan program for clean-energy systems, giving electric co-ops broad flexibility to make upgrades to their infrastructure.

Philip Fracica, director of programs for Renew Missouri, said as one of the most coal-dependent states in the country, Missouri stands to gain a lot from the program.

"Really, out of most of the co-ops in the country, I think we're at probably the best value proposition for this program, because we have really old plants," Fracica explained. "In replacing them with better, more affordable generation options such as renewable energy, which they don't have a large mix in that portfolio to diversify them, make them more resilient."

The plan offers individual co-ops up to $970 million to make upgrades.

Electric-cooperative members are often still paying off debts incurred decades ago during the construction of old power plants and infrastructure. Fracica pointed out the new grant and loan program allows co-ops to retire debt and offers forgivable loans to help build new generation capacity. He sees the approach as being better over the long term.

"Why don't we go to the root of this problem, which is the co-ops having all these debt payments tied to old fossil-fuel plants?" Fracica noted. "If we give them this money and forgive it and replace it with meaningful investments, we're going to be better stewards of our federal dollars to help folks in rural communities and also reduce energy costs."

The grant and loan program allows cooperatives the flexibility to use money and make the most sense locally. Options include making investments in new energy-generating technology including solar, wind or nuclear, as well as making efficiency upgrades to existing generation and transmission infrastructure, or adding battery storage, or carbon-capture systems.

While it is a large investment in moving to renewables, Fracica contended the overall need in America is much greater.

"We had asked for 10 times this funding amount originally," Fracica noted. "Because our data and research showed that we actually will need $100 billion if we wanted to get all of our rural-electric cooperatives in the United States off of fossil fuels."


get more stories like this via email
more stories
According to the National Family Farm Coalition, the average U.S. farmland value is now $3,800 per
acre, the highest since the 1970s. (Adobe Stock)

Environment

play sound

North Dakota's farming landscape is seeing policy shifts dealing with corporate ownership of agricultural interests. Now, there's fresh debate at the …


Social Issues

play sound

Advocates for unpaid family caregivers in Maine say they'll need continued support beyond the recently passed paid family and medical leave program…

Social Issues

play sound

The Students for Justice in Palestine chapters at the University of Florida and the University of South Florida are filing lawsuits against the deacti…


An estimated 40% of recent college graduates in the U.S. are underemployed, according to Statista. (Adobe Stock)

play sound

A new report from WGU Labs, a nonprofit affiliate of Western Governors University based in Millcreek, Utah, is shedding light on the importance of …

Social Issues

play sound

Many older residents of Washington state are facing strains on their budgets -- and the government programs that could assist them are underused…

The Thrive Indianapolis Annual Report 2022 says Indianapolis has been recognized as a Tree City USA for 35 consecutive years. (Adobe Stock)

Environment

play sound

Bloomington and Indianapolis are getting some international recognition for the work they're doing to help the environment. The two have been named …

Health and Wellness

play sound

New Mexico activists are tapping today's World AIDS Day, Dec. 1, to announce they'll ask the State Legislature to provide more money for treatment …

play sound

Bipartisan legislation that proposes the installation of solar panels in schools across Pennsylvania awaits a vote in the state Senate. The Solar …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021