National Clean Investment Fund (NCIF)

The National Clean Investment Fund (NCIF) is a comprehensive initiative that fosters clean technology projects across the United States by providing accessible, affordable financing. With a funding scope of $14B, the NCIF aims to establish national clean financing institutions.

NCIF works alongside other EPA programs, such as the Clean Communities Investment Accelerator, to maximize clean energy funding.

Key NCIF Program Details:

What Types of Projects Does NCIF Fund?

NCIF Purpose & Community Impact: Jobs, Clean Energy, Emissions Reduction

The NCIF program is geared towards:

• Facilitating energy bill savings
• Promoting cleaner air
• Creating jobs
• Supporting sustainable community development in low-income and disadvantaged communities

3 NCIF Recipients: Climate United, Coalition for Green Capital, Power Forward

Program Funding

• Total Funding: $14B

Community lenders and similar institutions may receive financial products such as warehouse loans, preferred equity investments, and loan guarantees. They may participate in loan-purchasing programs that directly enable them to deploy qualified projects in their communities.

 

The NCIF program has chosen three primary recipients that will, in turn, provide financial products to community lenders:

• Climate United Fund
• Mission: Mobilize capital towards low-income and disadvantaged communities
• Award Amount: $6.97B
• Qualifications: $30B in capital deployed, 75 lending offices, 220+ partnerships
• Eligibility Requirements: Focuses on community lenders, multifamily developers, community infrastructure, small businesses, farms, and schools in underserved areas
• Financial Products: 0% interest rate loans for electric vehicles and residential solar, multifamily subordinate loans, balance sheet loans, direct investments to community lenders, and customized direct investments

• Coalition for Green Capital

• Mission: Catalyze public and private investment into qualified environmental projects
• Award Amount: $5B
• Qualifications: Established over 20 green banks, catalyzed $20B in projects, 50% of investments in low-income communities.
• Eligibility Requirements: Public-private investing leveraging a network of green banks and community lenders
• Financial Products: Loans, loan guarantees, equity investments, credit enhancements, and insurance-like products for clean energy projects

• Power Forward Communities
• Mission: Decarbonize and transform American housing
• Award Amount: $2B
• Qualifications: $100B deployed in community initiatives, expertise in affordable housing, and climate action
• Eligibility Requirements: Programs aimed at single-family and multi-family housing owners and developers in underserved communities
• Financial Products: Loans for energy efficiency rehab, net-zero emissions buildings, solar energy installations, EV charging stations, and incentive bridge loans

NCIF Application Process: Step-by-Step Guide to Apply

The respective recipient organizations will provide details on the funding application process in late 2024 or early 2025.

APPLICATION PROCESS

Step 1: Eligibility Assessment (Month 1)

Verify your project meets NCIF requirements and identify the right recipient.

Step 2: Documentation (Month 2)

Gather financial statements, environmental assessments, and community impact data.

Step 3: Proposal Development (Month 3)

Create a detailed application with project goals, budget, and emissions calculations.

Step 4: Submission & Review (Months 4-5)

Apply and work through the recipient review process.

Step 5: Funding Decision (Month 6)

Receive approval and finalize funding terms.

Timeline: 4-6 months from start to funding decision

REQUIRED DOCUMENTATION

• Project plans and specifications
• Financial statements (3 years)
• Environmental impact assessments
• Community benefit analysis
• Detailed project budget
• Emissions reduction calculations
• Letters of support
• Proof of organizational capacity

CBO Financial provides complete documentation checklists and preparation support.

Common NCIF Application Mistakes to Avoid

Based on our 25+ years of federal funding experience, here are the most common NCIF application mistakes we see—and how to avoid them:

What is NCIF?

NCIF (National Clean Investment Fund) is a $14 billion EPA program that funds clean energy projects across the U.S., focusing on reducing emissions and supporting disadvantaged communities.

How much funding does NCIF provide?

NCIF provides $14 billion total, distributed through three recipients: Climate United Fund ($6.97B), Coalition for Green Capital ($5B), and Power Forward Communities ($2B).

What types of projects qualify for NCIF funding?

Eligible projects include solar installations, energy efficiency upgrades, EV charging stations, green buildings, and renewable energy systems focused on emissions reduction.

Who is eligible to apply for NCIF?

Nonprofits, businesses, municipalities, tribal communities, and developers can apply. Projects must reduce greenhouse gas emissions and demonstrate community benefits.

How does NCIF support low-income communities?

NCIF prioritizes projects in low-income and disadvantaged areas, ensuring equitable access to clean energy funding and promoting sustainable development where it’s needed most.

When are NCIF application deadlines?

Deadlines vary by recipient. Start your application 3-4 months early. Contact CBO Financial for current deadlines and guidance on the timeline.

Can NCIF funding be combined with other programs?

Yes, NCIF can be layered with New Markets Tax Credits, Housing Tax Credits, and USDA programs to maximize project funding.

What is the NCIF approval timeline?

Expect 4-6 months from submission to funding decision, including review, due diligence, and final approval stages.

What documentation is required for NCIF?

You’ll need project plans, financial statements, environmental assessments, community impact analysis, and detailed budgets. Requirements vary by recipient.

Does NCIF prioritize specific projects?

Yes. Priority goes to projects in disadvantaged communities, those with high emissions reductions, and initiatives that create green jobs in Justice40 areas.

What is the NCIF application process?

Submit a proposal outlining project goals, community benefits, and emissions reduction. Applications must address federal priorities and environmental justice requirements.

Can tribal communities access NCIF?

Yes, tribal communities are eligible for NCIF funding to support clean energy transitions and sustainable practices on tribal lands.

How does NCIF align with Justice40?

NCIF delivers at least 40% of benefits to disadvantaged communities, directly supporting Justice40’s equity goals in climate investment.

What role do public-private partnerships play?

Public-private partnerships help leverage resources, share expertise, and drive larger-scale clean energy projects more effectively than single entities.

How to apply for NCIF support?

Work with the appropriate recipient (Climate United, Coalition for Green Capital, or Power Forward). CBO Financial can guide you through eligibility and application preparation.

Who manages NCIF?

The EPA oversees NCIF, while three recipient organizations manage funding distribution: Climate United Fund, Coalition for Green Capital, and Power Forward Communities.

What is the purpose of NCIF?

NCIF aims to reduce greenhouse gas emissions, expand access to clean energy, support disadvantaged communities, and create jobs in the green economy.

How can organizations benefit from NCIF?

Organizations access capital for clean energy projects, support community development goals, reduce emissions, and create local economic opportunities.

What are common NCIF application challenges?

Common issues include incomplete documentation, insufficient evidence of community impact, unrealistic timelines, and inadequate data on emissions reductions.

How can I track my NCIF application?

Contact your recipient organization directly for status updates. Processing times vary, but expect regular communication throughout the 4-6 month review period.

What are NCIF’s success stories?

NCIF funds projects ranging from community solar programs to affordable housing retrofits and EV infrastructure, all of which reduce emissions while serving underserved communities.

How does NCIF collaborate with the private sector?

NCIF encourages private investment through co-funding opportunities, risk-sharing mechanisms, and public-private partnership structures that multiply program impact.

What innovations has NCIF funded?

Recent NCIF projects include advanced battery storage, green hydrogen facilities, zero-emission building technologies, and community-scale renewable energy systems.

How does NCIF impact greenhouse gas emissions?

NCIF projects must demonstrate measurable emissions reductions using EPA-approved calculation methods, collectively targeting millions of tons of CO2.

How can I prepare for the NCIF application?

Start 3-4 months early, gather financial documentation, develop community impact metrics, and work with consultants who understand EPA requirements.

What are the benefits of NCIF funding?

Benefits include below-market financing rates, flexible terms, technical assistance, and access to one of the largest clean energy funding pools available.

How does NCIF evaluate proposals?

Applications are scored on emissions reduction potential, community benefits, financial viability, project readiness, and alignment with Justice40 priorities.

What is the history of NCIF?

NCIF was established through the 2022 Inflation Reduction Act as part of the $27 billion Greenhouse Gas Reduction Fund to accelerate clean energy deployment.

How can I learn more about NCIF?

Visit the EPA NCIF website, contact recipient organizations directly, or schedule a free consultation with CBO Financial for personalized guidance.

What are NCIF’s future goals?

NCIF aims to deploy all $14 billion by 2031, scale clean energy in disadvantaged communities, and demonstrate replicable models for sustainable finance nationwide.

WHAT IS NCIF?

The National Clean Investment Fund (NCIF) provides $14 billion for clean energy projects across the U.S. Established under the Inflation Reduction Act, NCIF reduces emissions, creates jobs, and supports disadvantaged communities.

Program Goals:

• Reduce greenhouse gas emissions
• Expand clean energy access
• Support low-income communities
• Create green economy jobs
• Accelerate renewable energy adoption

Key Details:

• Total Funding: $14 billion
• Duration: 7 years (through 2031)
• Focus: Justice40 communities (40% of benefits)
• Authorized By: Inflation Reduction Act

3 NCIF RECIPIENTS

1. Climate United Fund – $6.97 Billion

Focus: Low-income communities, EVs, residential solar, multifamily housing
Best For: Community organizations, affordable housing developers, EV projects

2. Coalition for Green Capital – $5 Billion

Focus: Green banks network, public-private partnerships
Best For: State/local governments, established organizations, large projects

3. Power Forward Communities – $2 Billion

Focus: Housing decarbonization, energy efficiency
Best For: Housing developers, residential retrofit projects

Not sure which recipient is best for your project? Schedule a free consultation

WHAT PROJECTS QUALIFY?

Residential Clean Energy

• Rooftop solar installations
• Home energy efficiency retrofits
• Heat pump systems
• Battery storage
• EV charging at multifamily properties

Commercial & Industrial

• Commercial solar projects
• Energy efficiency upgrades
• Green building construction
• Zero-emission vehicle fleets

Community Projects

• Community solar programs
• Public EV charging networks
• Municipal clean energy upgrades
• Affordable housing decarbonization
• Schools and healthcare retrofits

Transportation

• Electric vehicle infrastructure
• Fleet electrification
• Transit improvements
• Alternative fuel facilities

ELIGIBILITY REQUIREMENTS

Who Can Apply:

• Nonprofits
• Businesses
• Municipalities
• Tribal communities
• Developers
• Green banks

Project Must:

• Reduce greenhouse gas emissions
• Benefit low-income communities
• Demonstrate financial viability
• Align with environmental justice goals
• Show measurable climate impact

WHY WORK WITH CBO FINANCIAL?

NCIF Application Support

• Eligibility assessment
• Recipient matching
• Documentation preparation
• Application writing
• Review and submission
• Post-award compliance

Our Expertise

• 25+ years of federal funding experience
• $1+ billion in secured financing
• 200+ successful projects
• EPA program specialists
• Proven application strategies

Client Success

“CBO Financial was instrumental in helping us secure funding. Their team is highly competent and professional,” – Ray Chung, VP & CFO, Neighborhood Centers Inc.

NCIF SUCCESS STORIES

Our clients have secured NCIF funding for:

• Community solar installations
• Affordable housing retrofits
• EV charging networks
• Energy efficiency upgrades
• Green infrastructure projects

Each project reduces emissions, creates jobs, and serves disadvantaged communities.

FUNDING OPPORTUNITIES

Federal Grants

Direct EPA funding for qualified clean energy projects.

Below-Market Financing

Favorable interest rates and flexible terms.

Technical Assistance

Support throughout the application and implementation.

Layered Funding

Combine NCIF with other programs:

• New Markets Tax Credits
• Low-Income Housing Tax Credits
• USDA programs
• State incentives

KEY FOCUS AREAS

Community Priorities

• Low-income community projects
• Tribal communities funding
• Rural area development
• Affordable housing initiatives
• Justice40 Initiative commitment

Economic Impact

• Green economy job creation
• Clean energy market growth
• Public-private partnerships
• Energy transition support

Environmental Goals

• Greenhouse gas reduction
• Clean air initiatives
• Environmental sustainability
• Housing decarbonization
• Green infrastructure

Energy Solutions

• Renewable energy adoption
• Energy efficiency loans
• Utility transition to renewables
• Community solar programs
• Climate change financing

PRIORITY REGIONS

NCIF focuses funding on these areas:

California: San Francisco, Los Angeles, Santa Clara County, Riverside County, San Bernardino County

Maryland: Montgomery County, Prince George’s County

Virginia: Alexandria, Arlington

Working in these regions? 

APPLICATION TIMELINE

Key Dates

• Application windows vary by recipient
• Start preparation 3-4 months early
• Review period: 6-8 weeks
• Due diligence: 4-6 weeks
• Final decision: 4-6 weeks

Total Timeline: 4-6 months from submission to funding

HOW TO GET STARTED?

Step 1: Free Consultation

Schedule a call with our NCIF specialists to discuss your project.

Step 2: Eligibility Review

We assess your project against NCIF requirements and recipient priorities.

Step 3: Strategy Development

Create a roadmap for documentation, application, and timeline.

Step 4: Application Preparation

We guide you through every detail of the application process.

Step 5: Submission & Support

Submit your application with confidence and ongoing expert support.

NCIF vs OTHER EPA PROGRAMS

NCIF

• Focus: Clean energy financing
• Amount: $14 billion
• Structure: Three recipients

Clean Communities Investment Accelerator

• Focus: Community lender capacity
• Amount: $6 billion
• Structure: Direct EPA awards

Both programs support clean energy. We help you choose the right fit.