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News Release
Release No. STELPRD4023773
ContactCynthia M. O'Grady
Printable Version  Printable Version
(MAY 12, 2014) USDA IS SEEKING APPLICATIONS FOR LOANS AND GRANTS TO HELP FARMERS, RANCHERS AND SMALL BUSINESSES CUT ENERGY COSTS

MT. LAUREL, May 12, 2014 -- United States Department of Agriculture, Rural Development Acting State Director Kenneth C. Drewes is seeking applications from farmers, agricultural producers and rural small businesses to purchase renewable energy systems or make improvements for energy efficiency projects.

"Developing renewable energy presents an enormous economic opportunity for rural America," Vilsack said. "This funding will help farmers, ranchers and rural small business owners incorporate renewable energy and energy efficiency technology into their operations, create jobs and help America become more energy independent. When small rural businesses and farmers cut their energy costs with cleaner and more efficient energy, we are both helping their bottom lines and reducing the amount of greenhouse gas pollution that affects our climate."

The funding is being provided through USDA's Rural Energy for America Program (REAP). Investments from programs like REAP help support the true engine of America's economic growth – a thriving middle class. REAP is one of many USDA programs and initiatives to support an expanded domestic energy economy. In addition to helping to increase renewable energy production, USDA makes investments in the bioeconomy, provides support for the emerging biobased products industry, supports new technologies, and supports energy efficiency improvements.

REAP funding is an example of the many ways that USDA is helping revitalize rural economies to create opportunities for growth and prosperity, support innovative technologies, identify new markets for agricultural producers and better utilize our nation's natural resources.

Created by the 2008 Farm Bill, REAP was reauthorized by the recently passed 2014 Farm Bill. For fiscal year (FY) 2014, USDA plans to award up to $12.3 million in grants and $57.8 million in loan guarantees. Additional REAP funds provided by the Farm Bill will be made available with a subsequent notice.

Requests for grants may not exceed 25 percent of a project's cost – either for stand-alone grant requests or for grants combined with loan guarantees.

Information on how to apply for REAP funding and on the application deadlines (which vary by project type) is available on page 25564 of the May 5, 2014 Federal Register.

Last Modified:07/24/2014 
 
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