USDA to help 821 rural small businesses save on energyStaff Writer | July 13, 2016
Agriculture Secretary Tom Vilsack announced funding for 821 projects across the nation that will help rural small businesses and agricultural producers reduce energy usage and costs in their operations.
Renewables $43.2 million in loan guarantees
USDA is providing $43.2 million in loan guarantees and $11.6 million in grants through REAP for projects in every state, as well as in the Virgin Islands, the Western Pacific and the Commonwealth of Puerto Rico.
Funding of each award announced today is contingent upon the recipient meeting the terms of the loan or grant agreement.
From 2009 to date, REAP has helped finance more than 11,000 renewable energy and energy efficiency projects that have reduced energy costs for roughly 15,000 rural businesses.
During this period, USDA has provided more than $373 million in grants and almost $481 million in loan guarantees to agricultural producers and rural small business owners.
When operational, these projects will generate or save almost 9 million megawatt hours – enough to power more than 730,000 homes and reduce greenhouse gas emissions by more 5 million metric tons in carbon dioxide each year. That is the equivalent of removing more than 1.1 million cars from our roads. ■