USDA Monday announced it has proposed a series of changes to improve the application process for renewable energy and energy efficiency funding for agricultural producers and rural small businesses.
The proposed changes would affect applications for loans and grants through USDA Rural Development's Rural Energy for America Program. USDA says they would:
•Reduce paperwork, especially for projects under $80,000;
•Implement a more objective and uniform system to score applications;
•Authorize funding for refurbished and retrofitted renewable energy systems;
•Reduce certain reporting requirements;
•Establish a quarterly application period for applicants seeking only guaranteed loans. This change is intended to make the program more appealing to lenders and to ensure that funds are available year-round.
REAP is one of USDA's most popular renewable energy and energy efficiency programs. From the passage of the 2008 Farm Bill through the end of Fiscal Year 2012, REAP funded more than 6,800 renewable energy and energy efficiency projects, feasibility studies, energy audits and renewable energy development assistance projects.
USDA is accepting comments on the proposed rule through June 11, 2013. For details on how to submit comments, or for additional information, see Page 22044 of the April 12 Federal Register.