USDA Invests $68 Million in 540 Renewable Energy and Energy Efficiency Projects Nationwide
Funding includes loan guarantees and grants for solar energy to create jobs, promote energy independence and advance the use of renewable fuels
BUNN, N.C. – Agriculture Secretary Tom Vilsack today announced that USDA is investing in 540 renewable energy and energy efficiency projects nationwide.
"These loan guarantees and grants will have far-reaching impacts nationwide, particularly in the rural communities where these projects are located," Vilsack said. "Investing in renewable energy and energy efficiency will continue the unprecedented increase in home-grown energy sources and American energy independence we've seen in recent years. This is creating jobs, providing new economic opportunities and leading the way to a more secure energy future."
Secretary Vilsack made the announcement while in North Carolina to highlight USDA's investments in rural renewable energy projects, as part of the Obama Administration's 'all-of-the-above' energy strategy. It is the most recent of a series of USDA actions to strengthen the country's energy sector. Two weeks ago, Vilsack announced a $105 million loan guarantee to a company that will produce jet fuel from municipal solid waste.
Today's funding is being provided through USDA Rural Development's Rural Energy for America Program (REAP). REAP was created by the 2008 Farm Bill and was reauthorized by the recently passed 2014 Farm Bill.
The announcement comes on a day when President Obama is announcing new executive actions to further advance the development of solar technologies across the country. These new investments in solar will reduce America's energy consumption, cut carbon pollution by nearly 300 million metric tons – equivalent to taking more than 60 million cars off the road for a year – and save businesses nearly $45 billion on their energy bills. The renewed effort to invest in solar energy also includes commitments from a broad coalition of 50 public and private sector partners, including leading industry, community development organizations and housing providers in 28 states. To learn more about this new Obama Administration initiative to increase the use of solar power, visit the White House website.