Rural areas across the country are facing issues of aging and declining infrastructure, buildings, and equipment that have widespread consequences for both the economy and the environment. For many farmers and small business owners, energy-inefficient equipment and infrastructure can drastically raise the cost of doing business, placing a further burden on these firms to be financially successful.
For Small businesses interested in sustaining their own electricity production the costs of doing so can be prohibitive, despite potential long-term financial gains that might make the investment worthwhile. Through funding allocated under the 2021 Inflation Reduction Act, the USDA has developed the Rural Energy for America Program (REAP) to rectify this situation. The program provides a much-needed investment into the economy of rural America driven by farmers, ranchers, and small businesses.
REAP is a revolutionary investment in our nation’s farmers and small business owners, allowing them to purchase renewable energy and power generation technologies that lead to lower energy consumption within their infrastructure. Per the USDA’s fact sheet, funding can be used to invest in equipment such as solar panels and other renewable energy-generating technologies, in addition to building improvements such as HVAC, new insulation, and other energy efficiency upgrades.
The Rural Energy for America Program has been one of the most popular federal programs for rural communities. The USDA plans on investing over $1 Billion in both grant and loan funding over the course of 2023 and 2024. With five grant cycles remaining in the program, there are plenty of opportunities to have your business participate. If you are interested in taking advantage of this opportunity, you and your team should discuss how your building could benefit from upgraded energy-efficient technologies. We at USFCR have worked with many potential applicants for this program since its inception and are excited to continue helping rural farmers and businesses invest in themselves and their communities.
We understand the stress of working through federal grant applications and are passionate about working with organizations that are ready to showcase their project's ability to make a lasting impact on their community. If you are curious if your organization would qualify for either the REAP grant or loan, please reach out and speak with one of our consultants.
The Grant Writing Team is now accepting potential applicants for the REAP through August 20, 2024.
Funding Opportunity Number: RDBCP-REAP-RES-EEI-2023-2024
Don't miss out on the funding that could elevate your project to the next level!
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