$410 Million in Funding Available
SUMMARY
Rural Utilities Service (RUS) has announced their Powering Affordable Reliable Technology (PART) program. This program offers electric cooperatives over $410 million in partially forgivable loans, with amounts ranging from $1 million to $100 million. The funding structure consists of 75% covered by RUS and 25% from the cooperative’s equity. Additionally, a 40% loan forgiveness component applies to 75% of the financed amount once the project is implemented. RUS requires interested parties to submit a Letter of Interest (LOI).
This may apply to you if…
- You generate hydro energy
- You generate geothermal energy
- You generate biomass energy
- You plan to install a Battery Energy Storage System (BESS) powered by any of the above three sources or by wind or solar energy.
Please note that new construction or significant additions of renewable energy are required for eligibility.
Action Items & Timeline
- Verify current System for Award Management (SAM) registration and Unique Entity Identifier (UEI) number before applying for the PART program.
- Check that the SAM account is under a current employee.
- LOI Window Opens: September 8, 2026 at 11:59 AM EDT
- LOI Window Closes: October 9, 2026 at 11:59 AM EDT
- Awards Begin: as early as Spring 2027
- Projects Completed: before September 30, 2031
- The Inflation Reduction Act requires project completion before fiscal year 2031 for loan forgiveness (up to 40% of the loan could be forgiven).
