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USDA Funding for Renewable Energy & Efficiency Projects
July 7, 2014
On Monday, May 5, 2014, the United States Department of Agriculture (USDA) announced the availability of grants and guaranteed loans for eligible farms and other rural businesses under the Rural Energy for America Program (REAP) for fiscal year 2014. Applicants can also apply for a combination grant and guaranteed loan.
Under this Notice of Funding Availability (NOFA), USDA is providing program levels of $12.4 million for grants and $57.8 million for guaranteed loans. To support these program levels, USDA will use $28.2 million, of which $24.7 million is unused mandatory farm bill funding from the 2008 Farm Bill, carried over from fiscal year 2013. The remaining $3.5 million was appropriated in the FY 2014 omnibus appropriations bill.
When USDA publishes the final rule for REAP, it will also publish a second NOFA to announce the availability of additional mandatory funding for the remainder of FY 2014. This funding will come from the 2014 Farm Bill, which provides $50 million per year. REAP is currently operating under an interim rule, and the final rule is expected to be published before the end of the fiscal year.