The Rural Business-Cooperative Service (the Agency) is issuing a second Notice of Solicitation of Applications (Notice) under the Rural Energy for America Program (REAP) as referenced in the notice that was published in the Federal Register on December 16, 2022. This second notice announces the availability of $1.055 billion in Inflation Reduction Act funds across six quarterly cycles to be obligated by September 30, 2024. This Notice also announces the types of projects that qualify for a federal grant share not to exceed 50 percent of the project cost, a set-aside for underutilized renewable energy technologies (underutilized technologies), as well as scoring revisions to support Administration priorities. Applications received on or after April 1, 2023, will be evaluated and scored according to the provisions listed in this Notice, unless otherwise amended via a subsequent notice. The Notice will not be applied retroactively to any applications previously filed. However, a portion of the funding made available under this notice may be made available to add to pooled funds to fund any Fiscal Year (FY) 2023 applications submitted prior to March 31, 2023, with no other changes in funding provisions or scoring allowed. Total approximate budget authority made available under this notice is as follows: 2022 carryover, 2023, and 2024 Inflation Reduction Act - up to $910,251,000. 2022 carryover, 2023 and 2024 Inflation Reduction Act Set-Aside for Underutilized Technologies - up to $144,752,000. Total Funds Available - at least $1,055,003,000. Renewable energy systems - Maximum grant request - $1,000,000. Energy efficiency improvements - Maximum grant request - $500,000.
