Renewable Energy Systems and Energy Efficiency Improvements Assistance
Purpose: Providing financial assistance in the form of grants and guaranteed loans to agricultural producers and rural small businesses for purchasing and installing renewable energy systems and making energy efficiency improvements.
REAP helps fund renewable energy systems such as solar panels, wind turbines, and small hydropower systems that are less than 30 MW.
You can receive grants up to $250,000 for energy efficiency projects and up to $500,000 for renewable energy projects. Grants cover up to 25% of a project’s eligible costs. Combined loans and grants can cover up to 75% of costs. Guaranteed loans are awarded up to $25 million for eligible projects, and can cover up to 75% of costs.
If your project costs less than $80,000, REAP can provide designated funds for small projects, simple applications, and a streamlined process.
The United States Department of Agriculture’s (USDA) goal is to increase the use of renewable energy and support energy efficiency to cultivate healthy rural businesses and agricultural communities. If you’re a Rural Small Business project in an eligible rural area (any area other than a city or town of greater than 50,000 inhabitants), or a renewable energy system that provides energy from renewable resources (wind, solar, ocean, geothermal, small hydroelectric), then you can be eligible for REAP. Projects must be technically feasible and have technical merit.
To learn more about REAP, visit: http://www.rd.usda.gov/reap.html