R.E.A.P. THE BENEFITS OF SOLAR
Rural Energy for America Program - The REAP facts
The federally-backed REAP program through the Farm Bill offers up-front grants and guaranteed loan financing to assist agricultural producers and rural businesses in moving to Solar. More than $800 Million has been awarded to date, and another $1 Billion was approved in 2023.
Eligible projects can qualify for 25-50% of total costs up-front. When coupled with the 30% Federal Investment Tax Credit, the 10% Domestic Content adder (both one-for-one credits), accelerated depreciation and additional local incentives, 85-90% of the total cost can be covered.
Investment payback for projects averages less than 3 years, depending on location and specifics, and ongoing electricity bills can be reduced by over 90%
Eligibility - Who Qualifies?
• Agricultural producers in any geography - Must produce 50% of company revenue through agricultural sales. Or...
• Rural businesses that meet SMB criteria and operate in specified rural geographies.
All Applicants must:
• Be financially solvent - no delinquencies, outstanding taxes, debarments or judgments
• Be the owner of the property
Application Deadlines for 2024
Only two more rounds of applications are scheduled for 2024. Start now to ensure you don't miss out on this limited opportunity
• June 30, 2024
• September 20, 2024
Or call 855-994-2044 for more information
Eligibility - Who Qualifies?
• Agricultural Producers - Must produce more than 50% of total revenue through agricultural sales.
• Rural Businesses - Meet SMB criteria and operate in specified rural geographies.
All Applicants Must:
• Be financially solvent. No delinquencies, outstanding taxes, debarments or judgments.
• Be the owner of the property.
Application Deadline
Only one more round of applications is scheduled in 2025, and future funding has yet to be approved.
Start now to ensure you don't miss out on this limited opportunity.
• Window opens October 1, 2025