Financial Services Association, April 22 (Editor Niu Zhanlin) On Monday EST, US President Joe Biden announced that he will provide 7 billion US dollars in funding for rooftop solar projects to help more than 900,000 households in low- and middle-income communities install rooftop solar equipment, in order to mark Earth Day.

These grants are issued by the US Environmental Protection Agency (EPA). According to senior government officials, these projects are expected to ultimately reduce emissions equivalent to 30 million tons of carbon dioxide and save more than 900,000 US households $350 million a year, equivalent to about $400 per household.

According to reports, the EPA will award up to 60 grants to states, Aboriginal people, and community groups for interstate projects. These grants are also part of the 27 billion yuan greenhouse gas emission reduction fund established after the adoption of the Inflation Reduction Act.

Earth Day is a holiday dedicated to protecting the global environment, and Biden often uses this as a backdrop to further advance his administration's climate initiatives. Last year, he signed an executive order establishing the White House Office of Environmental Justice to ensure that poverty, race, and ethnic status do not lead to more serious pollution and environmental harm.

Biden sought to contrast with Republican congressional leaders who called for less regulation of oil production to lower energy prices. Democratic Party officials countered that the Republican Party's policy favors lucrative oil companies and could eventually disrupt America's efforts in the field of renewable energy.

Officials also hinted that the new policy is part of Biden's campaign policy. Young voters are very interested in the climate agenda and hope to actually help advance it.

As a key renewable energy source, solar energy is receiving increasing attention. It can reduce America's dependence on fossil fuels, which emit greenhouse gases that cause global warming. Solar energy is not only clean, but also improves grid reliability. However, the initial installation cost of solar energy was high, making it impossible for many Americans to obtain.

Jean Su, director of the Biodiversity Center's Energy Justice Program, commented that community-based solar energy is the best hope for protecting humans and the climate from the scourge of fossil fuels. These targeted investments mean low-income households have access to affordable, resilient, and clean energy that protects our ecosystem, and it's great to see President Biden launch this landmark project.

White House national climate adviser Ali Zaidi said that investing in rooftop solar energy can unlock economic opportunities, create career paths that support the middle class, save people money, and improve their quality of life.