The U.S. Department of Agriculture (USDA) announced nearly $70,778,026 in renewable energy project grants under its Rural Energy for America Program (REAP) in 2015. The majority of the 700 grants across every state were slated for energy efficiency and solar projects, but also included 21 geothermal heat pump projects in 12 states. The geothermal total comes to $1,550,240.
“The percentage of geothermal projects and grants under REAP held its own this year, but we can do better,” says Geothermal Exchange Organization (GEO) President Doug Dougherty. “USDA contributions to rural renewable energy development are an important incentive for the geothermal heat pump industry that should be promoted far and wide by distributors, dealers and installers.”
REAP provides guaranteed loan financing and grant funding to agricultural producers and rural small businesses to purchase or install renewable energy systems or make energy efficiency improvements. REAP is now soliciting applications for Renewable Energy Systems & Energy Efficiency Improvement Loans & Grants for the following maximum amounts and deadlines for applications:
- Grants of $20,000 or less: May 2, 2016
- Unrestricted Grants (up to $500,000): May 2, 2016
- Loan Guarantees are completed continuously throughout the year.
For more information, visit www.geoexchange.org.