Investment to lower costs and enhance sustainability in rural communities
By Farms.com
Secretary Tom Vilsack of the U.S. Department of Agriculture unveiled a significant investment of over $81 million in clean energy projects across rural Colorado under President's Investing in America Agenda.
This funding, sourced from the Inflation Reduction Act, includes partially forgivable loans aimed at delivering affordable and sustainable energy solutions to rural Coloradans.
The announcement, made in Fort Collins, highlighted specific projects benefiting from this initiative. The Poudre Valley Rural Electric Association will receive $9 million to develop community solar and battery storage projects in Weld County.
Meanwhile, Delta Montrose Electric Association has been allocated $72 million to finance a grid-connected solar photovoltaic system in western Colorado, providing reliable clean power to rural communities.
These initiatives not only aim to reduce energy costs but also support job creation and strengthen the resilience of the national electric grid. They align with the President’s Justice40 Initiative, ensuring that marginalized communities benefit equitably from federal clean energy investments.
Prior to this announcement, USDA had allocated $1 billion through the PACE program in May 2023 for renewable energy and storage projects in rural America.
This program offers low-interest loans with up to 60% forgiveness to promote renewable energy development using wind, solar, hydropower, geothermal, and biomass technologies.
Looking ahead, USDA expects to continue awarding PACE funds to support economic opportunities, job creation, and improved quality of life in rural areas across the country.