How to resolve AdBlock issue? SARATOGA COUNTY — A newly created entity for the purpose of generating electricity in Ballston Lake will be receiving more than $5.3 million in loan funding as part of a Rural Development investment to be used for the purchase and installation of a 6.1 MW solar system.
The announcement was made Aug. 24 by USDA NY State Director for Rural Development Brian Murray as part of an overall investment of more than $11 million dollars across nine projects to combat climate change across rural NY.
The investment of $5,385,000 in loan funding to Hubbs Road Solar, LLC, which was incorporated in Saratoga County in 2019, is estimated to produce 7,983,900 kWh per year, which is enough electricity to power 800 homes.
The purpose of the funding program is to assist farmers, ranchers, and rural small businesses in developing renewable energy systems, and in making energy-efficiency improvements to their operations, according to the USDA. Funding includes a $4,745,919 applicant contribution.
“Rural America is on the front lines of climate change, and our communities deserve investments that will strengthen all of our resilience,” Murray said, in a prepared statement. “The Biden-Harris Administration has created a roadmap for how we can tackle the climate crisis and expand access to renewable energy infrastructure. The investments we’re announcing today and those that will be made possible by historic funding from President Biden’s Inflation Reduction Act will strengthen our energy security, create good-paying jobs and save Americans money on their energy costs.”
Murray’s comments were part of a nationwide announcement of the USDA is investing $121 million in critical infrastructure to combat climate change across rural America. The investments include $111 million for 289 projects to help people living in socially vulnerable communities.
