As utility costs continue to rise, businesses now have the opportunity to take advantage of a number of programs that can help to reduce overhead. These programs provide the opportunity to obtain grants for the equipment and installation of clean energy sources, like solar, wind, and biomass.
The federal government is offering a federal grant to businesses that are looking to utilize solar energy. These grant programs by the USDA can help those who felt solar power was far above their small business budget. Because of these programs, switching to solar and lowering your overall business costs has never been easier.
Why Go Solar?
Not only is solar power energy-efficient and renewable (meaning it is wonderful for the environment) but it will save you money overall. Solar heat can be used to dry crops, warm livestock buildings, and even power your own personal home!
Solar energy can also help you to increase your own self-reliance. If you live in a rural area, you might often be worried about energy cuts or blackouts. When using solar this is not something you need to be worried about.
What is the USDA REAP?
Through small business innovation research, agricultural producers found that solar power is not only a great way to save money, but it is a great way to generate clean energy to power our farms. Finally, after enough research and development, REAP was born.
The REAP is a program put on the United States Department of Agriculture. REAP stands for Rural Energy for America Program, and is offering grants and loans. Essentially, this program is a government incentive that is designed to help small and rural businesses, as well as farmers, obtain energy efficiency upgrades and install new solar systems.
According to Energy.gov, in 2015 alone a total of $63 million in grants and loans were awarded through the USDA REAP program. Whether you are a large farming operation or a small business in a rural area, you may be able to apply.
Funding for State and Local
These grants and loans will be given out based on need and ability to prove your business will utilize the renewable energy systems.
Energy grant: REAP provides solar panel grant funding for up to 25% of new solar installation projects.Loans: This program provides loan guarantees covering up to 75% of the total energy efficiency improvements made to your business.
The amount of the funding will range anywhere from $2,500, all the way up to a maximum of $500,000 for renewable energy systems. For improvements to already existing energy-efficient systems, there will be a rebate amount ranging from $1,500 to $250,000.
Tax Credits and the Cost of Solar
Now that solar energy has been around for more than a few years, the cost of installing solar is at an all-time low, and choosing a solar installer is easier than ever.. Each year prices begin to fall. In addition to utilizing the REAP grant, you can also take advantage of the 22% tax credit that goes along with solar energy. This along with other state incentives can help you to significantly decrease the costs of going solar, overall increasing your bottom line.
Is it Time to Look into Harmon?
At Harmon Solar, we want you to stop sending your hard-earned dollars to the department of energy. It is time to generate your own renewable energy and look into the REAP. Now is the time, while this program is available, and solar is at an all-time low to install. You and your small business can start saving immediately. Stop giving your money to energy businesses and start generating your own power!
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