WASHINGTON (WAND) - U.S. Department of Agriculture Secretary Tom Vilsack announced Wednesday that USDA is awarding $266 million in loans and grants to agriculture producers and rural small businesses to make investments in renewable energy and energy efficiency improvements.
The funding is made possible in part by President Joe Biden’s Inflation Reduction Act.
“Creating opportunity for rural communities means investing in farmers, ranchers, and small businesses,” Secretary Vilsack said. “A key pillar of Bidenomics, President Biden’s Investing in America agenda is ensuring our producers and business owners are not only a part of the clean energy economy but are directly benefitting from it. These once-in-a-generation investments in renewable energy, like wind and solar, and energy efficient technologies create new markets and deliver real cost savings for our small and mid-sized agricultural operations and Main Street businesses, building and keeping wealth in rural America.”
USDA is investing $266 million in 1,334 renewable energy and energy-efficiency projects in 47 states, Guam and Puerto Rico.
The Department is awarding the loans and grants through the Rural Energy for America Program, including funding from the landmark Inflation Reduction Act.
Since December 2022, USDA has made up to $1.3 billion available in REAP funding through the Inflation Reduction Act.
Eligible applicants include rural small business owners and agricultural producers. The program is part of the Justice40 Initiative. The initiative works to ensure that 40 percent of the benefits of certain federal investments reach communities that are marginalized and overburdened by pollution and underinvestment.
USDA is making awards in Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maine, Massachusetts, Maryland, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West Virginia, Wyoming, Guam and Puerto Rico.
The Department expects to make additional awards in the coming months.
USDA continues to accept applications and will hold funding competitions quarterly through Sept. 30, 2024.
The funding includes $144.5 million for underutilized renewable energy technologies.
For more information on application deadlines and submission details, see page 19239 of the March 31 Federal Register.
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