The impact of climate change has never been more prevalent than right now. Luckily, through the Inflation Reduction Act passed in August 2022, there are now significant incentives for rural businesses of all industries and agricultural businesses thanks to the Rural Energy for America Program (REAP) funding. 

Funding through REAP is an important step that rural businesses of all industries can take this year to protect themselves against unpredictable rate hikes, all while saving money. With additional state and federal incentives, eligible businesses can save up to 100% of the project cost if they switch to solar in 2024. With solar energy, farms and businesses can protect themselves against unpredictable rate hikes, all while saving money and taking an important step toward energy independence and resiliency.

REAP Eligibility

Rural businesses of all industries are eligible to receive these significant incentives.

• Agricultural producers are defined as businesses with at least 50% of their gross income coming from agricultural operations.
• Small businesses in eligible rural areas (population of 50,000 or less)

REAP Program Grants

• Capped at 50% of the total project cost
• Minimum grant amount is $2,500
• Maximum grant amount is $1,000,000

REAP Guaranteed Loans:

• Minimum loan $5,000
• Maximum loan 75% of total project cost (not to exceed $25 million)
• Loan guarantee is for 80% of the loan amount

These additional state and federal incentives combined with REAP may cover 100% of your project costs!

• 30% Federal Tax Credit
• Equipment depreciation
• NYSERDA grant 

Check out our map below to see if your business is in an eligible area to receive the REAP grant.