REAP loans approved in Fiscal Year 2024 will receive an 80 percent guarantee. The loan guarantee percentage is published annually in a Federal Register notice. What is the maximum amount of a loan guarantee? Combined grant and loan guarantee funding up to 75% of total eligible project costs.Grants for up to 50 percent of total eligible project costs.Loan guarantees on loans up to 75 percent of total eligible project costs.Replacement of energy-inefficient equipment.Įnergy Efficiency Improvement applications must contain an Energy Audit, or Energy Assessment (depending on Total Project Costs) that complies with Appendix A to RD Instructions 4280-BĪgricultural producers may also use guaranteed loan funds to install energy efficient equipment and systems for agricultural production or processing.Switching from a diesel to electric irrigation motor.Electric, solar or gravity pumps for sprinkler pivots.High efficiency heating, ventilation and air conditioning systems (HVAC).Ocean (tidal, current, thermal) generation.įunds may also be used for the purchase, installation and construction of energy efficiency improvements, such as:.Geothermal for electric generation or direct use.Biomass (for example: biodiesel and ethanol, anaerobic digesters, and solid fuels).How may the funds be used?įunds may be used for the purchase and installation of renewable energy systems, such as:
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