AcreValue has introduced two valuable map layers aimed at assisting renewable energy and rural developers with identifying properties eligible for government-funded energy initiatives. These map layer additions show eligibility areas for USDA Rural Business-Cooperative Service (RBCS) grants and the Dept. of Energy Low-Income Communities Bonus Credit Program.
By leveraging these layers, developers can pinpoint areas with funding potential and align project locations with high-priority funding zones. Here’s a guide to understanding, accessing, and utilizing these new map layers on AcreValue.
How to See the Qualified Areas for Renewable Energy Grants
To activate the map layers, you can follow these steps:
- Log in to AcreValue: Ensure you are logged into your AcreValue account.
- Navigate to the map: Go to the map section of AcreValue.
- Map Layers menu: Locate the Map Layers menu at the top left corner of the map.
- Select Energy Tax Credit Areas: Within the Map Layers menu, find the option to show or hide Energy Tax Credit Areas. Open the options to select one or more map layers to be displayed.
- Explore: Pan, zoom, and explore the map to see water districts across your area of interest.
The Energy Tax Credit Area layers are available to users with a Premium or Enterprise subscription or higher. Purchase a subscription here: Purchase AcreValue Premium.
What Are the New Map Layers?
The two new map layers on AcreValue include:
USDA Rural Business-Cooperative Service (RBCS) Grant Eligibility Areas
This layer highlights regions that qualify for USDA’s Rural Energy for America Program (REAP) and similar USDA-sponsored grants. The REAP program, specifically, offers funding for renewable energy systems and energy efficiency improvements in rural areas. Eligible properties can qualify for guaranteed loans or grants, aiding in the development and sustainability of renewable energy projects. For more details on REAP, refer to the USDA website.
Low-Income Communities Bonus Credit Eligibility Areas
This layer outlines areas considered low-income under the Department of Energy’s Low-Income Communities Bonus Credit Program, which incentivizes renewable energy projects in economically disadvantaged zones. Developers working within these areas can qualify for additional tax credits and financing assistance. More details on this program can be found on the Department of Energy website here.
Note: What is a Distressed Community?
A distressed community is a disadvantaged zone defined by a combination of socio-economic factors, including income levels, job opportunities, and community infrastructure. These areas often face significant economic challenges, such as high poverty, unemployment, and lack of access to essential services. The distress score is a metric that reflects the severity of economic hardship in a community, calculated by aggregating factors like poverty rate, unemployment, and population change. Higher distress scores indicate greater economic challenges.
How Can Developers Find Value in the Map Layers?
By quickly identifying sites eligible for specific grant and loan programs, developers can streamline their project planning and site selection process, enabling faster project approvals and funding allocation.
Grants and Programs for Renewable Energy Projects
- Rural Energy for America Program (REAP): Grants and guaranteed loans through REAP make renewable projects more affordable, reducing both startup costs and the overall financial risk.
- Low-Income Communities Bonus Credit: Developers can secure bonus credits for projects located in low-income zones, which boosts investment appeal and offers additional incentives.
Developers can leverage these programs to lower upfront costs, expedite development timelines, and prioritize projects based on available funding opportunities.
Common Ways to Combine the Energy Tax Credit Area Layers with Other AcreValue Tools
Try using the Distressed Communities layer with other AcreValue tools, such as:
- Energy Infrastructure Layers: Developers targeting areas for renewable energy projects can use the energy infrastructure map layers, like transmission lines and substations, identify potential landowners in qualifying regions.
- Soil Productivity & Land Use Maps: Developers and investors can cross-reference credit-qualifying areas with highly productive soils or specific land uses to identify opportunities for rural development, investment, or renewable energy projects.
- Absentee landowner filter: For users involved in marketing or land development, combining the Tax Credit Areas layers with the absentee landowner filter helps target specific landowners within communities eligible for rural development grants & programs.