REAP and farm economics drive a lot of NEA projects.
USDA REAP grants and loan guarantees can meaningfully change the payback on a farm or rural small business solar project, and the Delta has been one of the more active regions for these awards in Arkansas. Eligibility, documentation, and timing matter, so we plan REAP-eligible projects around the application window and the actual production a system will deliver on the proposed site rather than the maximum size the budget would allow. Under USDA's new REAP rule, effective October 16, 2026, a project must be built and running for 12 months before it can apply for a grant, grants top out at $500,000 for a renewable energy system, and the owner covers at least 75% of cost. Guaranteed loans are still available for up-front costs on most projects, and we can plan the build so the system is ready to apply once it has a year of data. Our agricultural portfolio includes EG Farms, Isbell Farms, McGraw Farms, Stoner Farms, and other Delta operations that have used solar to take direct aim at irrigation, grain-drying, and poultry-house energy costs.
