Saturday, April 29, 2017

USDS provides $173 million in loan guarantees and grants

The U.S. Department of Agriculture (USDA) announced on Monday that it will provide $102 million in loan guarantees and $71 million in grants to help 1,114 rural small businesses and agricultural producers install energy efficient measures and renewable energy systems.

The funds will be administered through the Rural Energy for America Program (REAP), and will go towards projects across the nation. In total, the awardees are expected to generate or save 8.4 million megawatt hours and reduce greenhouse gas emissions by 5 million metric tons, which is equivalent to the annual power usage of 760,000 homes and the carbon dioxide pollution of 1 million cars.

"More rural business owners and ag producers are incorporating energy-saving measures into their business plans," Agriculture Secretary Tom Vilsack said. "These actions improve an operation's bottom line and help reduce its carbon footprint. This funding will help incorporate renewable energy and energy efficiency technology and reduce energy costs. But beyond the local benefits seen by a company saving energy costs and the global benefits of reducing carbon emissions, this funding will also create American jobs by supporting energy production and efficiency installations that are made in rural America."

Organizations in this story

United States Department of Agriculture 1400 Independence Ave SW Washington, DC 20250

Get notified the next time we write about United States Department of Agriculture!