REAP Modernization Act of 2023

The REAP Modernization Act of 2023 updates the Rural Energy for America Program (REAP) to prioritize projects that reduce greenhouse gas emissions, directly affecting rural farmers, ranchers, and small businesses by requiring the Secretary to promote such reductions in funded projects. It expands eligibility for grants to include producer cooperatives and nongovernmental organizations, allows limited case-by-case assistance for rural electric cooperatives, and streamlines applications for renewable energy and efficiency projects. The bill mandates technical assistance for applicants, requires a study on renewable energy systems sharing land with farming (e.g., solar panels on farmland), and sets a two-year deadline for a congressional report on expanding such projects. Additionally, it reserves 15% of annual funds for underutilized renewable technologies and clarifies that shared energy metering (e.g., farms and nearby residences) does not require specific energy usage thresholds.