This website requires certain cookies to work and uses other cookies to help you have the best experience. By visiting this website, certain cookies have already been set, which you may delete and block. By closing this message or continuing to use our site, you agree to the use of cookies. Visit our updated privacy and cookie policy to learn more.
This Website Uses Cookies
By closing this message or continuing to use our site, you agree to our cookie policy. Learn More
This website requires certain cookies to work and uses other cookies to help you have the best experience. By visiting this website, certain cookies have already been set, which you may delete and block. By closing this message or continuing to use our site, you agree to the use of cookies. Visit our updated privacy and cookie policy to learn more.
Read More
The United States Department of Agriculture (USDA) recently announced it will award $2.7 billion in electric grid loans to rural electric cooperatives and utilities. This marks the agency’s largest loan program since its establishment in 1935.
The funding will benefit more than 6 million rural households and businesses. It will be used for the construction, improvement and maintenance of rural electric infrastructure.
The USDA has awarded this funding as part of its commitment to the “ReConnect Program,” which aims to provide reliable, high-speed broadband to rural homes and businesses. By investing in rural electric grid modernization, the agency hopes to reduce electricity costs and improve reliability in rural areas nationwide.
Rural electric cooperatives and utilities approved for the loan program will be able to finance projects such as the deployment of smart-grid technology, such as advanced meters and automated switch systems. These new systems are expected to help reduce power outages, increase grid efficiency and open the door for new energy efficiency programs.
In addition to the federal loan program, the USDA is also providing additional funding for state and local governments to promote energy efficiency, support the transition to lower-emission sources of electricity, and promote the growth of local renewable energy markets.
Rural electric cooperatives have welcomed the loan program announced by the USDA, citing the need for electricity access and security in many rural areas across the United States. The program is a great opportunity for rural electric cooperatives and utilities to modernize their electric grids and increase the reliability and affordability of their electricity supply.
