South Carolina businesses benefit from $266M in federal clean energy funding.

South Carolina businesses are benefiting from $266 million in loans and grants being awarded by the U.S. Department of Agriculture to agriculture producers and rural small businesses to make investments in renewable energy and energy efficiency improvements.

This funding is made possible in part by President Joe Biden's Inflation Reduction Act, the nation's largest-ever investment in combatting the climate crisis, according to a news release from the U.S. Department of Agriculture.

Grants totaling $2.66 million have been awarded to 17 South Carolina businesses, according to the release.

"Creating opportunity for rural communities means investing in farmers, ranchers, and small businesses," U.S. Department of Agriculture Secretary Tom Vilsack said in the release. "These once-in-a-generation investments in renewable energy, like wind and solar, and energy efficient technologies create new markets and deliver real cost savings for our small and mid-sized agricultural operations and Main Street businesses, building and keeping wealth in rural America."

USDA is investing $266 million in 1,334 renewable energy and energy-efficiency projects in 47 states, Guam and Puerto Rico, according to the release. The Department is awarding the loans and grants through the Rural Energy for America Program (REAP), including funding from the landmark Inflation Reduction Act.

Since December 2022, USDA has made up to $1.3 billion available in REAP funding through the Inflation Reduction...