WASHINGTON, DC – US Rep. Bill Delahunt announced that the Department of Agriculture is making available $176.5 million in loan guarantees and $11.4 million in grants to support small business investment in renewable energy nationwide.

"These funds are important in helping businesses in small communities conserve energy and move our country toward energy independence.  The Congress will most likely boost funding for this program which can help small businesses on the South Shore, Cape Cod and the Islands" said Delahunt today.

The Renewable Energy and Energy Efficiency loan and grant program was established under Section 9006 of the 2002 Farm Bill. The program targets loan guarantees and grants to farmers and rural small businesses for the purchase and installation of renewable energy systems or for energy efficiency improvements. 

Grants are available for up to 25 percent of a project's cost, not to exceed $250,000 for energy efficiency improvements and $500,000 for renewable energy systems.  Loan guarantees are available to cover up to 50 percent of a project's cost, not to exceed $10 million.

The program is designed to reduce greenhouse gas emissions by 0.97 million metric tons, replace 821 million barrels of foreign oil and generate almost 2 million kilowatt hours of electricity annually. USDA has funded more than 800 loans and grants since the renewable energy program began in FY 2003. The Congress is now considering proposals to significantly expand the renewable energy program which could add an additional $1.6 billion in funding.

Applications for grants from individuals in the 10th Congressional District must be completed and submitted to the USDA Rural Development office in West Wareham, MA at 15 Cranberry Highway and postmarked no later than May 18.

The deadline for submitting loan applications as well as for loan and grant combinations is July 2.  Further information on rural programs is available by calling the West Wareham Office at 508-295-5151 ext 3 or by visiting USDA's web site at http://www.rurdev.usda.gov/rbs/farmbill/index.html .

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