Every so often, we like to remind Kentuckians about incentives (such as tax credits, loans or grants) that help defray the cost of efficiency upgrades and renewable energy projects. Below is a list of current opportunities, with links to the agency offering incentives:
- The U.S. Department of Agriculture’s Rural Energy for American Program provides grants and loans to agricultural producers and small businesses in eligible rural areas for a wide range of renewable and energy efficiency projects. Available funding includes loan guarantees on loans up to 75% of total eligible project costs; grants for up to 25% of total eligible project costs; and combined grant and loan guarantee funding up to 75% of total eligible project costs. For more information, please visit USDA Rural Energy Programs.
- The Kentucky Agricultural Development Fund On-Farm Energy Efficiency Incentives Program provides incentives for Kentucky’s farm families to increase the energy efficiency of existing equipment or facilities.
- A number of federal tax credits for residential energy efficiency are available under the Bipartisan Budget Act of 2018, which extended expired tax credits. Federal tax credits for solar installations are also available.
- In addition to tax credits and other incentives, homeowners can finance a new home with an energy-efficiency mortgage or cover energy-efficiency retrofits on an existing home by refinancing an existing loan.
- Finally, check with your electric utility provider for any rebates and incentives they might offer.