By : Tony Gonzalez
Source : http://www.tennessean.com
Category : Small Business Grant
Tennessee farms, ranches and rural small businesses have received $6.5 million in renewable energy grants and loans in the past three years, according to a U.S. Department of Agriculture report released this morning.
Of the 98 grants and loans, most of the money went to 69 solar projects, including a handful in Middle Tennessee. Recipients have included a custom saddler in Lebanon, a medical clinic in Dickson, the family-run GroWild nursery in Fairview, which specializes in plants and trees native to the state, and Adventureworks recreation and team-building center in Kingston Springs.
Grants coming to Tennessee have increased each of the past three years, placing the state 13th in the nation for money awarded to companies, mostly through the Rural Energy for America Program (REAP). State projects have received more than $4 million in grants and $2.5 million in loan guarantees.
In some cases, Tennessee farms are generating more solar energy than the operations require, allowing some to be sold back into the power grid, said David Glasgow, USDA Rural Development spokesman for Tennessee.
“In a small farm operation or a small business, every dollar makes a difference,” he said.
Glasgow said the federal grant program has encouraged businesses to find new ways to produce electricity. The businesses are projected to recoup out-of-pocket investment costs in five years, he said, noting that many receive a variety of grants and tax credits for projects.
“Anytime there’s a new technology, it needs to reach a certain level of production before it becomes commercially viable,” he said.
Nationwide, awards are approaching $192 million in grants and $165 million in loan guarantees.
Source : http://www.tennessean.com/article/20120320/NEWS01/303200059/Tennessee-attracts-windfall-renewable-energy-grants-loans?odyssey=mod%7Cnewswell%7Ctext%7CFRONTPAGE%7Cp
