Agriculture Secretary Tom Vilsack says USDA Rural Development is providing $23.4 million in loans and grants for 186 renewable energy and energy efficiency projects under the Rural Energy for America Program. The Secretary told a crowd at the Iowa State Fair that this funding will not only help farmers and small businesses reduce energy costs, but also be more efficient and competitive.
For example, Primus Farms, Inc. of Grundy, Iowa will receive a $23,162 grant and an identical loan to replace an outdated grain dryer with a new, highly efficient grain dryer projecting over 54.58% in annual energy savings.
And in Franklin, Mass., Berkshire East Ski Area will receive a $1.5 million guaranteed loan to assist rural small businesses in developing a renewable energy system. This project will fund a large wind energy generation system that will offset the firm's energy use and provide a portion for sale.