Clean Energy Fund of Texas

In April 2024, the Biden Administration announced the organization would receive a $156.12 million grant from the Solar for All program established by the Environmental Protection Agency (EPA) in order to deploy and distribute residential solar panels in low-income areas. The Solar for All grant program is a subsidiary of the $27 billion Greenhouse Gas Reduction Fund that was created under the Inflation Reduction Act passed in 2022. ³ According to tax filings, in 2022, the Clean Energy Fund of Texas received 92% of its funding from government grants, though it reported no government grants in 2023. ^{3 4 5}

History and Activities

The Clean Energy Fund of Texas describes itself as “the first ‘green bank’ in Texas” to facilitate capital investments in weather-dependent energy technologies to fight climate change. The organization focuses its efforts in low-income and other communities in Texas with few or no financial institutions to offer financing for weather-dependent energy projects such as solar installations and wind turbines.” ¹

The Clean Energy Fund of Texas was founded in 2021 and received formal recognition as an environmentally focused investment fund through the Inflation Reduction Act of 2022. ¹

The Clean Energy Fund of Texas offers loans of $3,000 to $50,000 to increase energy efficiency within homes, loans to increase energy efficiency and water conversation within businesses, and loans for developers to build environmentally focused energy projects. ²

Additionally, the Clean Energy Fund of Texas conducts environmentalist advocacy for weather-dependent energy projects, hosts a workflow platform for contractors, provides water and energy conservation audits, and provides information promoting weather-dependent energy technologies to businesses and families. ²

The Clean Energy Fund of Texas provides financing to community organizations, homeowners, suppliers of weather-dependent energy and energy-efficient technology, businesses, and building owners. ⁶

The Clean Energy Fund of Texas affirms that the world is facing a “climate crisis” that demands “equity and justice” when transitioning to weather-dependent technologies. ⁷

Leadership

The chief executive officer of the Clean Energy Fund of Texas is Billy Briscoe. Briscoe was previously an attorney at The Briscoe Law Firm, vice president of strategy and general counsel at the Tagos Group, principal at Dimond Management and Technology Consultant, and principal at Public Strategies Inc. ^{8 9}

Financials

According to tax filings, in 2023, the Clean Energy Fund of Texas reported $498,294 in revenue, $472,605 in expenses, and $462,018 in assets. The entirety of the organization’s expenses was devoted to promoting the use of weather-dependent energy. ⁵

In 2022, the Clean Energy Fund of Texas reported $662,705 in revenue, $226,376 in expenses, and $436,329 in assets. Of the organization’s reported revenue that year, 92% was derived from government grants. ⁴

In April 2024, the Biden Administration announced the organization would receive a $156.12 million grant from the Solar for All program established by the Environmental Protection Agency (EPA) in order to deploy and distribute residential solar panels in low-income areas. The Solar for All grant program is a subsidiary of the $27 billion Greenhouse Gas Reduction Fund that was created under the Inflation Reduction Act passed in 2022. ^{3 10}

The Clean Energy Fund of Texas announced it would partner with the Bullard Center for Environmental and Climate Justice at Texas Southern University to bring solar, energy storage, and grid improvement changes to the state of Texas. Through this program, the Clean Energy Fund of Texas focused on providing its services to minority-serving institutions and Historically Black Colleges and Universities (HBCUs). ³