The USDA just announced a new way for farmers, ranchers and owners of rural businesses to reduce energy costs and develop new sources of renewable energy. Through the new USDA Renewable Energy and Energy Efficiency Loans and Grants businesses will be able to save money and commit to more sustainable business practices.
Funding is provided through USDA's Rural Energy for America Program (REAP) and REAP funding can be used for renewable energy systems, energy efficiency improvements, feasibility studies, energy audits and renewable energy development assistance.
REAP grants are awarded on a competitive basis and are limited to $500,000 for renewable energy systems and $250,000 for energy efficiency improvements. Grant requests as low as $2,500 for renewable energy systems and $1,500 for energy efficiency improvements will be considered.
If you're a farmer, rancher or rural small business who gains 50% or more of your gross income from agricultural operations you're eligible to apply. You'll need to demonstrate financial need. Rural electric cooperatives may also be eligible to apply.
In total the USDA will be awarding more than $30 million in loans and grants to the 516 recipients. To learn more and apply for the REAP Grant Program contact your Rural Development State Office.
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