Pete HahnloserThe U.S. Department of Agriculture (USDA) has announced $80 million in low-interest loans to spur investment in renewable energy projects in rural Nevada. These projects aim to increase resilience in emergencies, lower costs for residents and businesses, and provide employment opportunities.
These projects are part of the USDA’s Powering Affordable Clean Energy (PACE) program, which is financed by the Inflation Reduction Act. This represents the most significant investment in rural electrification since the Rural Electrification Act was enacted in 1936.
The funding was announced by Deputy Agriculture Secretary Xochitl Torres Small during a visit to the planned site of a solar power facility in Pahrump, Nevada. The area is vulnerable to wildfires and power outages, but will soon enjoy a consistent electricity supply from a plant that will harness and store solar energy.
Valley Electric Association intends to use an $80.3 million investment to install a 37-megawatt solar power generation and storage system, benefiting Pahrump and the Fish Lake Valley area. This project will strengthen the energy grid, reduce costs for the association’s members and ensure that essential services remain operational in the region.
The system will generate enough electricity to power 3,500 homes. Valley Electric serves communities involved in the Rural Partners Network (RPN), a USDA-led initiative that works with federal, state and local partners to assist underserved communities in accessing federal funding.
In May 2023, the USDA allocated $1 billion through the PACE program to support new clean energy projects and energy storage initiatives in rural America. The program offers low-interest loans with up to 60% loan forgiveness to renewable energy developers, rural electric cooperatives, and other rural energy providers for projects involving energy storage and renewable sources including wind, solar, hydropower, geothermal and biomass.
To date, the USDA has announced $665 million in investments chosen to advance under the PACE program and anticipates continuing to issue PACE awards in the coming months.
Photo by American Public Power Association on Unsplash
