The REAP Modernization Act of 2023 updates the Rural Energy for America Program, a federal initiative that provides grants and loans to farmers and rural businesses for renewable energy projects. The bill expands eligibility to include agricultural cooperatives and nonprofit organizations, requires the Department of Agriculture to prioritize projects that reduce greenhouse gas emissions and provide climate benefits, and creates a streamlined application process for applicants. It increases the minimum grant amount from $20,000 to $50,000 and allows grants to fund multiple eligible energy activities. The legislation also directs the Department of Agriculture to conduct a two-year study on "dual-use" energy systems where renewable energy and agricultural production occur on the same land, with recommendations on whether to expand the program's scope. Additionally, it reserves at least 15 percent of annual program funding for projects using less common renewable technologies and dedicates up to 8 percent of funds for technical assistance and outreach.
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