Written by Prognog Staff

The USDA has announced renewable energy grants and loans.

Loan for $176.5 million and also $11.4 million in grants will be available for investments in renewable energy and energy efficiency improvements said the U.S. Agriculture Secretary Mike Johanns.

"The availability of these funds will further the Bush administration's goal to increase renewable energy from domestic sources," Johanns stated. "These loans and grants advance USDA's comprehensive energy strategy announced last December to help farmers, ranchers and rural business mitigate the impact of high energy costs and develop long-term solutions."

Under this renewable energy program, the maximum amount of a loan guarantee made to a borrower is $10 million. For renewable energy systems, the minimum grant request is $2,500 and the maximum is $500,000. For energy efficiency improvements, the minimum grant request is $1,500 and the maximum is $250,000. Rural development grants under the program will not exceed 25 percent of the eligible program costs and a combination of grants and guaranteed loans will not exceed 50 percent.