USDA is set to spend more than $3 billion on electrifying rural America.
Ag Secretary Tom Vilsack says the projects will have several benefits.
“We know that energy costs are a major factor in an economic development decision about location and the ability of rural America to have this level of investment puts it back in the game. These facilities don’t necessarily have to be located always in a city or in a suburb. They can now open up the opportunity for manufacturing and return to manufacturing in rural places, and we’ve seen a significant increase in manufacturing jobs in the last several years. So I think there is a genuine opportunity here for multiple benefits.”
Vilsack adds more electricity, which means farmers and ranchers can cash in on any excess.
“There are multiple benefits. First and foremost, the ability of farms and farmers and ranchers in particular, to be able to produce excess energy. And ultimately to be able to work with their friends and neighbors to aggregate that excess energy creates the possibility of new income sources for farmers, in addition to lower cost electricity and power for their operation.”
The money for these projects will come from the Inflation Reduction Act in the form of grants and loans.
