Acting USDA Rural Development State Director, Bill Davis, today encouraged rural agricultural producers and small business owners to apply for assistance to purchase and install renewable energy systems or make energy efficiency improvements.
“This financing presents opportunities for economic growth,” said Davis. “By incorporating energy technology, businesses can modernize their operations while lowering energy costs and boosting their bottom line.”
Through the Rural Energy for America Program (REAP), eligible applicants may receive grants for up to 25 percent of total project costs and loan guarantees for up to 75 percent of total project costs for renewable energy systems and energy efficiency improvements. REAP application deadlines vary by project type and the type of assistance requested. Details on how to apply are on page 78029 of the December 29, 2014 Federal Register.
Eligible renewable energy projects must incorporate commercially available technology. This includes renewable energy from wind, solar, ocean, small hydropower, hydrogen, geothermal and renewable biomass (including anaerobic digesters). The maximum grant amount is $500,000, and the maximum loan amount is $25 million per applicant.
Energy efficiency improvement projects eligible for REAP funding include lighting, heating, cooling, ventilation, fans, automated controls and insulation upgrades that reduce energy consumption. The maximum grant amount is $250,000, and the maximum loan amount is $25 million per applicant.
USDA Rural Development will be hosting a public workshop on REAP February 19, 2015, from 9:00 a.m. to 12:00 p.m. at the City of Moorhead Council Chambers. If you would like to attend, please call (701) 530-2064 or email email@example.com to get more information on how to register.