Rural Energy Savings Program (RESP)
Program Funding
Annual program obligations reported to SAM.gov.
Funded Projects
Examples of what this program has supported.
Program Objective
The Rural Energy Savings Program (RESP) provides loans to entities who provide energy efficiency
services in rural areas that agree to make affordable loans to help Qualified consumers implement cost- effective, energy efficiency measures. This program, authorized by Congress in the 2014 Farm Bill, helps to build a cleaner and more sustainable domestic energy sector for future generations. RESP will help lower energy bills for rural families and businesses and will reduce barriers to
investment in energy efficiency projects or activities.
Eligibility
Eligible Applicants
- Nonprofit Organization
Eligible entities offering energy efficient loans to customers within any part of their service territory as defined in 7 CFR 1719.
Beneficiaries
- Consumer
Borrowers loan to qualified consumers for purposes of implementing energy efficient improvements.
How to Apply
Award Procedure
The RUS Administrator, has the discretion to make the final decision on approvals of the loans upon a finding that the applicant has met the criteria as outlined in the RESP Notice of Funds.
Decision Timeline
- Approval: From 30 to 60 days
Program details & compliance
Description
The Rural Energy Savings Program (RESP) is a relending program that helps rural families and small businesses achieve cost savings by providing loans to qualified consumers to implement durable cost-effective energy efficiency measures.
Eligible applicants under the RESP include current and former Rural Utilities Service (RUS) electric borrowers, subsidiaries of current or former RUS electric borrowers, and entities that provide eligible purposes under RESP.
Mission Categories
Primary: Rural Community Development
Use of Funds
Allowed Uses
The Rural Energy Savings Program provides loans to qualified consumers to implement durable cost-effective energy efficiency measures. Borrowers must meet eligibility requirements, loan term must not exceed 10 years, loans made by an eligible entity to a qualified consumer may bear interest not to exceed 5%.
Restrictions
Loans will be made to eligible entities that agree to use the loan funds to make loans to qualified consumers for the purpose of implementing energy efficiency measures. Loan terms to eligible RUS borrowers may not exceed 10 years and are made at a zero percent (%) interest rate. Loans made by RUS Borrowers to end users may not exceed 5 percent (%) interest rate for no more than 10 years.
Required Documentation
The following documents are required in order to submit a completed application: Letter of intent, energy efficiency program implementation work plan, environmental compliance agreement, a pro forma balance sheet, itemized budget for RESP activities and other applicable documents as specified within the RESP Notice of Funds Availability (NOFA).
Reporting & Compliance
Applicable 2 CFR 200 Subparts
- Subpart B — General Provisions
- Subpart C — Pre-Federal Award Requirements
- Subpart D — Post-Federal Award Requirements
- Subpart F — Audit Requirements
Formula
"This program has no statutory formula."