The U.S. Department of Agriculture will accept $220.9 million in loan and grant applications within its Renewable Energy Systems and Energy Efficiency Improvements Program, Agriculture Secretary Ed Schafer announced during the Washington International Renewable Energy Conference (WIREC) last month.
Loan guarantees and grants are available to agricultural producers and rural small businesses to purchase and install renewable energy systems or to make energy efficiency improvements.
Eligible applicants may seek loan guarantees to cover up to 50% of a project’s cost, not to exceed $10 million. Grants are available for up to 25% of a project’s cost, not to exceed $250,000 for energy efficiency improvements and $500,000 for renewable energy systems.
USDA Rural Development has invested $674 million in more than 1,763 renewable energy and energy efficiency projects since 2001. These investments include ethanol, biodiesel, wind, solar, geothermal, methane gas recovery systems and biomass.
USDA will issue one grant solicitation for two separate competitions in FY 2008. For the first competitive window, grant-only applications must be submitted no later than April 15, 2008. For the second competitive window, grant-only applications must be submitted no earlier than April 16, 2008, and no later than June 16, 2008.
Applications for loan guarantees, as well as those for loan/grant combinations must be completed and submitted to the appropriate USDA Rural Development State Office no later than June 16, 2008.
Further information is available at the USDA website.
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