TL/DR –
The article mentions that rural businesses and farms in Monroe County can qualify for up to 90% funding for solar power installations. This is possible through two government programs, the Inflation Reduction Act and the Rural Energy for America Program (REAP). The Inflation Reduction Act provides a 30% tax credit plus a bonus of 10% depreciation, while REAP provides a 50% grant; these can be used together to cover most costs.
Rural Monroe County Businesses and Farms Eligible for Up to 90% Funding for Solar Power Installations
Rural businesses and farms in Monroe County may be eligible for up to 90% funding for solar power installations, thanks to two government programs. The Inflation Reduction Act and the Rural Energy for America Program (REAP) are designed to support these initiatives.
The Inflation Reduction Act provides a 30% tax credit, along with a bonus of 10% depreciation. On the other hand, REAP offers a 50% grant. Businesses can leverage both these programs together to cover up to 90% of the costs associated with solar power installations.
Monroe County’s move towards sustainable energy sources aligns with the global trend of utilizing renewable energy. It not only benefits the environment but also helps businesses and farms reduce energy costs in the long term.
For Monroe County businesses and farms interested in these programs, detailed information can be found at the official government websites for the Inflation Reduction Act and the Rural Energy for America Program (REAP).
With these funding opportunities in place, Monroe County continues to encourage the transition towards renewable energy sources.
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