Agriculture Secretary, Tom Vilsack, has announced that the Department of Agriculture is offering loans and grants for over 500 renewable energy programs to help farms and ranchers become more energy efficient and reduce energy costs. The USDA is offering over $30 million in loans to over 500 recipients, with funding provided through the Rural Energy for America Program, or REAP.
“These loans and grants will generate and save energy for the nation’s farmers and rural small businesses for decades to come,” Vilsack said. “The funding will help replace outdated equipment, such as old, inefficient grain dryers, insulate buildings, allow recipients to obtain energy audits and incorporate renewable energy technologies into their operations so they can compete in the 21st Century global economy.”
Rural farmers and businesses across the country have benefited from these REAP loans. Keith Alverson, a South Dakota farmer, has received nearly $100,000 in loans and grants to purchase new grain elevators and to make energy efficiency improvements to his Chester farm.
Authorized in the Food, Conservation, and Energy Act of 2008, REAP funding rests upon the recipient meeting various conditions for grants and loans. More information on REAP can be found on REAPs website.