Market News & Headlines >> Funding Available for Energy Projects
USDA is taking applications from agricultural producers and small rural businesses for funding of energy efficiency improvements or to install renewable energy sytems. Through past rounds of projects in USDA's Rural Energy for America Program, the department has facilitated growth in renewable energy: The number of farms using renewable energy production has more than doubled in the past five years to more than 57,000 (in 2012, versus 23,451 in 2007). Solar panels account for 63% of the renewable energy systems on farms.
For fiscal year 2014, USDA plans to award up to $12.3 million in grants and $57.8 million in loan guarantees. USDA is accepting applications for:
• Renewable energy system and energy efficiency improvement loan guarantee and grant combinations;
• Renewable energy system and energy efficiency improvement loan guarantees; and
• Renewable energy system and energy efficiency improvement grants.
Requests for grants may not exceed 25% of a project's cost – either for stand-alone grant requests or for grants combined with loan guarantees.
For more info: http://www.rurdev.usda.gov/BCP_Reap.html