Biden-Harris Administration Invests $266M as Part of Investing in America Agenda; Tom Vilsack Comments
WASHINGTON - The Biden-Harris administration is funneling vital funding into renewable energy and energy efficiency improvements for agriculture producers and rural small businesses. United States Department of Agriculture (USDA) Secretary Tom Vilsack has announced that the USDA is awarding $266 million in loans and grants to help these businesses reduce energy costs, generate new income, and strengthen the resilience of their operations.
“Creating opportunity for rural communities means investing in farmers, ranchers, and small businesses,” said Secretary Vilsack. “A key pillar of Bidenomics, President Biden’s Investing in America agenda is ensuring our producers and business owners are not only a part of the clean energy economy but are directly benefiting from it. These once-in-a-generation investments in renewable energy, like wind and solar, and energy efficient technologies create new markets and deliver real cost savings for our small and mid-sized agricultural operations and Main Street businesses, building and keeping wealth in rural America.”
According to a press release, USDA is investing $266 million in 1,334 renewable energy and energy-efficiency projects in 47 states, as well as Guam and Puerto Rico. The Department is awarding the loans and grants through the Rural Energy for America Program (REAP), including funding from the landmark Inflation Reduction Act.
This funding is part of President Biden’s Investing in America agenda, which aims to grow the American economy from the middle-out and bottom up, the release noted.
To see a full list of the 47 states eligible for funding, click here. The Department expects to make additional awards in the upcoming months.
USDA continues to accept applications and will hold funding competitions quarterly through September 30, 2024.
ANUK will continue to report on the latest developments in our industry, so stick around.