Don’t Wait! The Final Call for USDA REAP Grants for Solar Energy
The transition to renewable energy is not just about global prosperity, it’s also about individual prosperity; it is an opportunity for individual growth and economic efficiency. One such opportunity has been brightly shining on agricultural producers and rural small business owners in the form of the USDA Rural Energy for America Program (REAP).
This year is crucial, as it is the final chance to fully capitalize on the REAP grant’s boosted funding levels for solar energy investments, thanks to the unprecedented support from the Inflation Reduction Act (IRA)!
USDA REAP Grant at a Glance
The USDA's announcement of $145 million in funding has been earmarked to empower 700 loan and grant awards under the REAP initiative.
The aim? To lower energy costs, generate new income, and bolster operational resilience for those in the heartland of America's economy – our agricultural sectors and rural businesses!
If you are new to the REAP Grant or need a refresher on its origins and parameters, you can read about in detail on our website!
What's New with REAP
The REAP program has undergone pivotal changes, invigorated by the IRA. The first three bullets are most applicable for the majority of applicants:
Quarterly Competitions: REAP will facilitate six quarterly competitions to obligate $1.05 billion by September 2024.
Increased Grant Size: Qualifying projects may now receive up to $500,000 for energy efficiency improvements or up to $1 million for renewable energy systems.
Elevated Federal Share: Energy efficiency projects, zero-emission renewable energy projects, projects in energy communities, and those by tribal entities can now enjoy up to a 50% federal grant (used to be 25%).
Underutilized Technology Fund: With $144.5 million, this fund supports emerging renewable technologies, ensuring a diverse energy future.
The Urgency of Now
With a clear surge in support and benefits for renewable energy projects, this year presents an unmatched opportunity. However, the clock is ticking!
The considerable financial incentives currently available for solar energy investments through the REAP grant are not scheduled to repeat.
Intended specifically for the rural backbone of our nation, the chance to maximize your solar savings is knocking at your door!
Success Stories that Inspire!
Our installation at SEPCO in Alabaster, Alabama is a prime example of successfully utilizing the REAP Grant!
Their successful REAP grant application opened the door for them to go big with their solar installation —a substantial 240kW system— which has drastically reduced their power bill. SEPCO’s solar system generates 463,646 kWh of energy annually, eliminating 724,390 lbs of carbon dioxide emissions every year. SEPCO's tactile approach to the resources available to them serves as a blueprint for others to adopt and apply, propelling them forward in the transition to solar energy.
Your Solar Future Starts Today
If you are one of the many farmers or rural business owners pondering the switch to solar, hesitate no more. Act swiftly, and grab your chance to significantly reduce your utility costs and elevate your sustainability before the 50% REAP grant reverts to its previous 25% level.
Write your own success story!
The sun is ready to do the work, the federal government provides 100% of the funds (50% REAP grant + federal tax incentives) and Eagle Solar & Light will guide you through the process with transparency!
