Solar for Agriculture and Rural Small Businesses
The Rural Energy for America Program (REAP), included in the recent Climate Bill (Inflation Reduction Act), offers Agricultural Producers and Rural Small Businesses significant incentives to make the switch to solar power. 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 Guaranteed Loans and Grants
Agricultural producers and rural small businesses are eligible to receive these great new incentives.
- Agricultural producers 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 40% of 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
More Solar Incentives for Your Business
30% Investment Tax Credit
This newly-increased incentive means you can save thousands more on a solar project at your business or institution. This credit is now transferrable to a taxable entity and can be applied to storage projects as well.
Businesses can depreciate their solar project, and through 2024 solar is also eligible for bonus, or accelerated, depreciation.
NY-Sun Program via NYSERDA
These incentives combine to cover up to 70% for most GreenSpark commercial projects. Get in touch to find what incentives your farm or business is eligible for:
Agriculture and Rural Business Case Studies
Historic solar savings for farms and rural businesses are here.
Fill out the form below and our commercial solar experts will be in touch shortly.