Morrow, Georgia, faces significant challenges with its limited electric vehicle (EV) charging infrastructure, prompting local green bank Freedmen Capital Foundation to pursue a charger installation project. However, delays and market fluctuations, exacerbated by political changes, have stalled progress and increased costs. The project was intended to benefit from funding through the Inflation Reduction Act, which aims to support such green initiatives by establishing a network of green banks. Freedmen Capital Foundation, linked to a historic bank for formerly enslaved people, hopes to contribute to sustainable development in the area.
The project could have been up and running by now, but delays and increased costs due to market uncertainty have impacted small businesses involved.
Funding from the Inflation Reduction Act supports green projects, allowing for the establishment of a network of state and local green banks.
#electric-vehicles #green-banking #inflation-reduction-act #community-development #infrastructure-challenges
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