Grants and Loans Available for E85 Equipment
Beginning April 14, the U.S. Department of Agriculture’s (USDA) Rural Energy for America Program (REAP) is available to provide grants and loan guarantees for the purchase and installation of retail flexible fuel dispensers and related equipment, and the retrofitting of existing pumps to dispense E85.
The program is geared to serve the rural small business owner. The station must be in an area with a population under 50,000 and not in an urbanized area adjacent to a city or town with a population over 50,000 (i.e., a suburb of a major city). Furthermore, owners of convenience stores with gasoline stations must have average annual sales of less than $27 million to qualify.
Project costs that may be paid with REAP funds include, but are not limited to:
- post-application purchase/installation of equipment, including underground storage tanks;
- post-application construction or improvements;
- energy audits/assessments;
- permit and license fees; professional service fees, except application preparation;
- feasibility studies/technical reports/business plans; and
- retrofitting.
Applicants for USDA grants and loan guarantees must submit a completed application by June 15, 2011, to be eligible for funding during the government’s fiscal year 2011 which ends September 30. Station owners may have access to additional sources of funds, including a 30 percent U.S. Department of Treasury tax credit for the investment in renewable refueling infrastructure, as well as financial incentives from industry and selective states for flexible fuel pumps. Applicants for USDA grants and loan guarantees must submit a completed application by June 15, 2011, to be eligible for funding during the government’s fiscal year 2011 which ends September 30.
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