Rural Energy for America Program

Background
The Rural Business-Cooperative Service (the Agency) is issuing a second Notice of Solicitation of Applications (Notice) under the Rural Energy for America Program (REAP) as referenced in the notice that was published in the Federal Register on December 16, 2022. This second notice announces the availability of $1.055 billion in Inflation Reduction Act funds across six quarterly cycles to be obligated by September 30, 2024.

This Notice also announces the types of projects that qualify for a federal grant share not to exceed 50 percent of the project cost, a set-aside for underutilized renewable energy technologies (underutilized technologies), as well as scoring revisions to support Administration priorities.

Grant Details
The Agency provides grants, guaranteed loans, and combined grant and guaranteed loan combinations thru the REAP program to help agricultural producers and rural small businesses reduce energy costs and consumption and helps meet the Nation’s critical energy needs.

Applications for REAP may be submitted at any time throughout the year. The regulations in 9 CFR part 93 contain provisions that address the risk that imported bovines (cattle or bison) may introduce or disseminate brucellosis or bovine tuberculosis (TB) within the United States.

Eligibility Requirements
The eligibility requirements for the applicant, borrower, lender, and project are clarified in 7 CFR part 4280 Subpart B and in 7 CFR part 5001 and are summarized in this Notice.

Matching requirements for each type of funding, as applicable, are outlined in 7 CFR 4280.115 (b) for RES/EEI grant; and 7 CFR 4280.137 for RES/EEI combined grant and guaranteed loan.

Period of Performance
Up to 24 months for grants. Guaranteed loans are governed by the loan terms.

Grant Value
Total approximate budget authority made available under this notice is at least $1,055,003,000.

Place of Performance
Projects will be awarded quarterly with all FY obligations made prior to September 30th of each year.