‘Inflation Reduction Act’ Tops $1B in Clean Energy Investments

Staff
By Staff
4 Min Read

WASHINGTON – U.S. Department of Agriculture Secretary Tom Vilsack announced Thursday that USDA is funding new projects in nearly every state to lower costs, expand access to clean energy and strengthen American farms and small businesses.

USDA is making the investments through the Rural Energy for America Program (REAP), a program that has seen record demand in response to historic funding provided by President Biden’s Inflation Reduction Act.

“The Biden-Harris Administration and USDA are ensuring farmers, small business owners and rural communities have the resources they need for the future,” Vilsack said. “The investments I’m announcing today will help rural communities lead our country toward an economy that benefits working people everywhere with lower costs and clean energy jobs.”

Today, USDA is investing more than $256 million in loans and grants that will support more than 1,100 clean energy projects in 40 states.

Most of the projects being announced today are funded by President Biden’s Inflation Reduction Act, the nation’s largest-ever investment in combating the climate crisis.

Since the start of the Biden-Harris Administration, USDA has invested more than $2.7 billion through REAP in 9,901 renewable energy and energy efficiency improvements. Almost 7,000 of these projects were funded by over $1 billion provided by the Inflation Reduction Act.

REAP enables agricultural producers and rural small business owners to expand their use of wind, solar, geothermal and small hydropower energy and make energy efficiency improvements. These innovations help them increase their income, grow their businesses and address climate change while lowering energy costs for American families.

Examples of the awards announced Thursday include:

  • IPR Fresh, a produce wholesaler in Nogales, Arizona, is using a grant of more than $350,000 to install a roof-mounted, solar-power system that is expected to save nearly $67,000 a year and provide 100% of the company’s electricity.
  • Agriventures LLC in Pineview, Georgia, is using a grant of more than $111,000 to replace four center pivot irrigation systems that will save the family cotton farm more than $2,000 each year.
  • Hydro Technology Systems Inc. in Stevens County, Washington, is using a grant of more than $172,000 to buy and install a hydropower retrofit turbine. The project will help the company generate enough hydroelectricity to power almost 760 homes.
  • Tinedale Project LLC in Brown County, Wisconsin, is using a loan of more than $22 million to develop and operate a dairy manure anaerobic digester that will capture bio-methane and convert it into renewable natural gas to be transported through a local utility pipeline. The project is expected to create three jobs.

The investments announced today will benefit farmers, entrepreneurs and others in Alabama, Alaska, Arizona, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia and Wisconsin.

Share This Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *