(The Center Square) – Wisconsin will receive $62.4 million of the $7 billion overall in federal funds that the U.S. Environmental Protection Agency grants as part of the Solar for All Initiative.

The program attempts to fund solar projects for 900,000 households nationwide.

The funding is part of the EPA’s $27 billion Greenhouse Gas Reduction Fund from the federal Inflation Reduction Act.

The Wisconsin Economic Development Corp applied for the grant, which will allow it to begin funding projects late in 2024 or early 2025.

The WEDC says the Wisconsin initiative will use private funding and the federal grant to fund and build a financial assistance program beyond the initial five-year program.

It said the Wisconsin average cost for a 5-kilowatt rooftop system is $14,000 to $19,000 before federal tax credits and local incentives.

“Gov. Evers and all of us in his administration are working to build an economy for all,” WEDC Secretary and CEO Missy Hughes said in a statement. “Likewise, we seek to create an energy system that is renewable and works for all. The grant represents a huge step forward in that effort.”