RBCS Receiving REAP Program Applications
On July 26, 2021, the Rural Business-Cooperative Service (“RBCS”) issued a notice of solicitation for applications that announces the acceptance of grant, guaranteed loan, and combined grant and guaranteed loan applications under the Rural Energy for America Program (“REAP”). The RBCS estimates that it will issue approximately 1,000 awards funding $50 million for the fiscal year.
The REAP program helps agricultural producers and rural small businesses reduce energy costs and consumption and helps meet the nation’s critical energy needs. To this end, REAP provides two types of funding assistance: 1) Renewable Energy Systems, Energy Efficiency Improvements (“RES/EEI”) and Energy Efficient Equipment and Systems (“EEE”), and 2) Energy Audit and Renewable Energy Development Assistance (“EA/REDA”).
The RES/EEI provides grants and guaranteed loans to agricultural producers and rural small businesses for the purchase and installation of renewable energy systems and to make energy efficiency improvements. The EEE provides guaranteed loans only to agricultural producers to purchase and install energy efficient equipment and systems for agricultural production and processing. The EA/REDA is available to a unit of State, Tribal, or local government; instrumentality of a State, Tribal, or local government; institution of higher education; rural electric cooperative; a public power entity; or a council, as defined under the Resource Conservation and Development program at 16 U.S.C. § 3451. The grantee will establish a program to assist agricultural producers and rural small businesses with evaluating energy efficiency or the potential to incorporate renewable energy technologies into their operations.
Information about eligibility requirements and application deadlines is available here. If you have any questions, please contact us at insights@goodstewardlegal.com.
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