50% REAP Grants for Solar System
REAP Grants (Rural Energy for America Program) from the U.S. Department of Agriculture can cover up to 50% of the cost for a rooftop or ground mount solar system. Eligible recipients include all agricultural producers and most types of rural businesses. When one adds a 30% to 40% Tax Credit to a 50% REAP Grant, plus tax savings from depreciation, from 85% to 95% of the upfront cost for solar can be covered through a combination of cash and tax incentives.
Recently passed legislation also dramatically increased REAP funding for the 2023 and 2024 award cycles, with over $1 billion available. While the grant process is competitive, with all the funds available, the odds of receiving a REAP Grant have never been better.
In most cases, Net Metering allows solar system owners to accumulate credit towards future energy needs. As an example, overproduction during the summer can build up a positive balance with the utility, to offset some or even all their use at other times of the year. Net Metering also allows for an offset against other onsite meters without any physical connections between them.
Unfortunately, the days of “cheap electricity” for most Oregonians are numbered. For 2023, PGE customers will face a rate increase of about 8% and PGE is asking for 14% more next year. Pacific Power customers have already seen their bills rise by an average of 14.7% this year alone.
The next REAP Grant application deadline of June 30th is quickly approaching so interested parties should contact Rob Aldridge, REAP Grant specialist, who can answer any questions. Pure Energy Group has already completed dozens of solar projects for the agricultural community and has secured REAP Grants as large as $250,000 in the process. Although most installations have been in Oregon, REAP Grants are available in WA, ID, CA and other locations as well.
Rob can be reached at 503-510-5206 (call/text) or by email at firstname.lastname@example.org.
Another contact at Pure Energy Group is Jordan Sinn, Co-Owner, who can be reached at 971-218-6374 (call/text) or Jordan@pureenergy.group.