Businesses now have the chance to benefit from a variety of initiatives that may assist save expenses as electricity rates continue to increase. For the equipment of sustainable energy sources including solar, wind, and biomass, these programs provide the chance to get funds.
Businesses wishing to use solar energy may apply for a federal subsidy from the government. Those who believed solar power was beyond their small company budget may seek assistance via these USDA Solar grants for small businesses programs. These initiatives make it simpler than ever to go solar and save your company’s total expenditures.
Go Solar: Why?
Solar energy is not only cost-effective and environmentally friendly (meaning it is renewable), but it also saves electricity. Crops may be dried using solar energy, and they can even be used to power your house!
You may become more self-reliant by using solar energy. If you reside in a remote region, you may often worry about power outages or cuts. This is not something you need to be concerned about while utilizing solar.
What is the USDA REAP program?
Agricultural producers discovered via a small company innovation study that solar power is a terrific method to provide clean energy to power our farms in addition to being a great way to save money. REAP was finally created after much study and development.
The United States Department of Agriculture has implemented the REAP program. Solar grants for small businesses and loans are available via the Rural Energy for America Program (REAP). Essentially, this program is a government incentive meant to aid farmers, small and rural companies, and other businesses in installing new solar systems and improving their energy efficiency.
Energy.gov reports that the USDA REAP program issued grants and loans totaling $63 million in 2015 alone. You could be eligible to apply whether you run a huge agricultural enterprise or a small company in a rural location.
As mentioned on KTAR, rural Arizona communities have received $50 million in funding from the REAP program already! See KTAR’s article on the REAP solar program here.
State and local government funding
These loans and Solar grants for small businesses will be distributed by need and your capacity to demonstrate that your company will use renewable energy sources.
Energy grant: For up to 25% of new commercial solar installation projects, REAP offers solar panel grants money.
Loans: This program offers loan guarantees for up to 75% of the entire cost of your company’s energy efficiency upgrades.
For renewable energy systems, financing will be provided in the range of $2,500 to a maximum of $500,000. A reimbursement value ranging from $1,500 to $250,000 will be offered for upgrades to previously installed energy-efficient systems.
Solar Costs and Tax Credits
Since solar energy has been around for a while, installing solar panels is cheaper than ever before, and choosing a solar installer is simpler than before. Prices start to decline every year. You may benefit from the 22% tax credit that comes with solar energy in addition to using the REAP grant. This may drastically lower the cost of getting solar for you combined with other state incentives, thus improving your bottom line.
Is Now the Time to Research Watt Masters?
We at Watt Masters Solar want you to quit giving the Department of Energy your hard-earned money. It’s time to research the REAP and produce your renewable energy. The time to install solar is now, while this program is still in place and prices are at an all-time low. You may start saving right now for yourself and your small company. Start producing your energy instead of providing it to energy companies.