Most small businesses in Colorado's mountain communities qualify for the Rural Energy for America Program, better known as the REAP Grant.
What Is the REAP Grant?
The REAP Grant provides guaranteed loan financing and grant funding to rural small businesses and agricultural producers for renewable energy systems, such as solar.
This program helps increase American energy independence by increasing the private sector supply of renewable energy and decreasing the demand for energy through energy efficiency improvements. Over time, these investments can also help lower the cost of energy for small businesses and agricultural producers.
Grants can cover up to 25 percent of total eligible project costs.
Loans can cover up to 75 percent of total eligible project costs.
Grants and loans may be combined to fund up to 75 percent of total eligible project costs.
Deadlines To Apply
Applications for the loan are accepted throughout the year, however applications for the grant are due October 31, 2021.
Who is Eligible?
Rural small businesses located in communities with populations less than 50,000. This includes surrounding areas such as Glenwood Springs, Carbondale, Basalt, Aspen, Eagle, Vail, New Castle, Gypsum, Rifle, Parachute, etc.
All farms who make at least 50% of their gross income from agricultural production.
Additional requirements include:
Be financially solvent.
Not be delinquent or have outstanding federal taxes.
Be the owner of the business.
Have no judgment, or debarment in order to be considered.
Check the USDA Eligibility Map to see if your business address is eligible.
May the REAP Grant Be Combined With Other Solar Incentives?
In short...Yes! The REAP Grant can be combined with the solar tax credit as well as local incentives, potentially driving down the cost of your solar project by at least 50%.
How To Get Started
In order to submit an application, we have laid out a few key steps to get started.
Get a DUNS number. If you already have one, no need to reapply.
Register for a System and Rewards Number.
Get in contact and introduce yourself to Colorado's Energy Coordinator early on in the process.
The Energy Coordinator will perform an environmental review before you begin your application. He or she will be a great resource in terms of helping you with your application.
Have More Questions?
Contact Reconnect Clean Energy to help with the REAP Grant for Solar. Contact us at info@reconnect-ce.com for a proposal to get started.