Biden directs millions to rural clean energy grants
TL/DR –
The Biden administration plans to allocate $144 million to small-scale energy projects on hundreds of farms, a joint effort by the Agriculture and Energy departments. The funding, provided through the Inflation Reduction Act, could potentially reach up to 400 farms or more and will expand the Rural Energy for America Program, focusing on underutilized technologies like wind energy. Agriculture Secretary Tom Vilsack believes this initiative will provide farmers and rural communities with economic benefits by allowing them to save money and earn income from smaller-scale renewable energy technologies.
Biden administration dedicates $144 million for small-scale energy projects
The Biden administration revealed plans to allocate $144 million towards small-scale energy initiatives across numerous farms. This is a collaborative endeavor between the Departments of Agriculture and Energy.
Agriculture Secretary Tom Vilsack introduced the program at an Arlington, Virginia-based wind energy conference. He stressed that it would benefit small and medium-sized farms by curtailing costs and heightening incomes in rural regions. The department estimates that as many as 400 farms, or possibly more, could receive grants.
The Inflation Reduction Act is the funding source for this expansion of the Rural Energy for America Program. This initiative merges grants and loan guarantees to encourage alternative energy usage in rural areas. The Act designates $144 million specifically for ‘underutilized technologies’, encompassing wind and other renewables.
Vilsack on the benefits of the initiative
Through a press release, Vilsack explained the value of this initiative. He stated, “By bolstering our enduring collaboration with DOE via the RAISE initiative, USDA is certifying that farmers and diligent Americans nationwide can economize and generate income from smaller-scale, distributed renewable energy solutions. These investments will yield lasting economic dividends for their families, businesses, and communities for the foreseeable future.”
—
Read More US Economic News