Funding Opportunity: Renewable Energy Systems & Energy Efficiency Improvements
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FUNDING OPPORTUNITY
Rural Energy for America Program Renewable Energy Systems & Energy Efficiency Improvement Guaranteed Loans & Grants
Program Period | Open for Fiscal Year 2023
Applications due October 31, 2022 (set-aside) and March 31, 2023
What does this program do?
The program provides guaranteed loan financing and grant funding to agricultural producers and rural small businesses for renewable energy systems or to make energy efficiency improvements. Agricultural producers may also apply for new energy efficient equipment and new system loans for agricultural production and processing.
Who may apply for this program?
- Agricultural producers with at least 50 percent of their gross income coming from agricultural operations.
- Small businesses in eligible rural areas.
What are the borrowing restrictions for loan guarantees?
- Individual borrowers must be citizens of the United States or reside in the U.S. after being legally admitted for permanent residence.
- Private-entity borrowers must demonstrate that loan funds will remain in the U.S.
What is an eligible area?
- Businesses must be in located in rural areas with populations of 50,000 residents or less.
- Check eligible business addresses.
- Agricultural producers may be in rural or non-rural areas.
How may the funds be used?
Funds may be used for renewable energy systems, such as:
- Biomass (for example: biodiesel and ethanol, anaerobic digesters, and solid fuels).
- Geothermal for electric generation or direct use.
- Hydropower below 30 megawatts.
- Hydrogen.
- Small and large wind generation.
- Small and large solar generation.
- Ocean (tidal, current, thermal) generation.
Funds may also be used for the purchase, installation and construction of energy efficiency improvements, such as:
- High efficiency heating, ventilation and air conditioning systems (HVAC).
- Insulation.
- Lighting.
- Cooling or refrigeration units.
- Doors and windows.
- Electric, solar or gravity pumps for sprinkler pivots.
- Switching from a diesel to electric irrigation motor.
- Replacement of energy-inefficient equipment.
Agricultural producers may also use guaranteed loan funds to install energy efficient equipment and systems for agricultural production or processing.
What funding is available?
- Loan guarantees on loans up to 75 percent of total eligible project costs.
- Grants for up to 40 percent of total eligible project costs.
- Combined grant and loan guarantee funding up to 75% of total eligible project costs.
FOR MORE INFORMATION:
Rural Energy for America Program Energy Audit & Renewable Energy Development Assistance Grants in Pennsylvania | Rural Development (usda.gov)