USDA to make $300 million available for local renewable energy

CARSON CITY, Nev. (KOLO) - The USDA will make available $300 million for the state of Nevada to invest in renewable energy for rural areas.

The funding will include $250 million from the Inflation Reduction Act.

“The Inflation Reduction Act is a monumental opportunity for making energy investments in rural Nevada,” USDA Rural Development Nevada State Director Lucas Ingvoldstad said.

“Climate-smart investments are priorities for the Biden-Harris Administration and USDA Rural Development. We are ready to bring this historic funding to the Silver State to further build this growing industry and to create jobs,” he continued.

The USDA is now seeking applications for the fiscal year 2023.

Changes will include an increase in the maximum Federal grant share from 25% to 40% of total project cost and an increase of maximum grant amounts from $250,000 to $500,000 for energy efficiency projects and an increase from $500,000 to $1,000,000 for renewable energy systems.

Agricultural producers and rural small businesses are eligible applicants for loan guarantees and grants to develop renewable energy systems and to make energy efficiency improvements.

State and local governments, federally-recognized Tribes, land-grant colleges or universities or other institutions of higher education, rural electric cooperatives, public power entities, and Resource Conservation & Development Councils are also eligible for grants to conduct energy audits and provide development assistance.