USDA announces $266 million in REAP loans and grants

USDA announces $266 million in REAP loans and grants

The USDA is investing $266 million in renewable energy and energy-efficiency projects across 47 states through the Rural Energy for American Program.  Ag Secretary Tom Vilsack made the announcement during the recent Farm Progress Show in Decatur, IL.  “To help farmers lower their costs in terms of their own power needs and also potentially create more revenue on the farm,” he says.

$118 million came from President Biden’s Inflation Reduction Act.  With nearly $2 billion in the fund, Vilsack says he anticipates several more announcements in the future, creating additional income opportunities for producers. 

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