Liberty Farms is a farm based in Somerville, TN and is owned by family members Joshua and Howard Dowdy. Their desire to go solar is powered by their goal to operate in a more sustainable way and decrease the cost of operating their business.
Liberty Farms has received a grant that will cover 50% of the project’s cost from the US Department of Agriculture (USDA) Rural Energy for America Program (REAP), which will repay investors. The investment will support the construction of a 267 kW solar installation with 522.24 kWh of battery storage.
Incentives: Tax Credits & Government Grants
Liberty Farms is eligible for a 40% Investment Tax Credit (ITC) and has received a 50% USDA Renewable Energy for America Program (REAP) grant (available after one month of production data). They are working with Ovanova, the project developer, to raise funds to complete the solar and storage project and unlock the incentives for repayment for project backers.
Key Project Details
A 267 kW solar installation designed to power Liberty Hill Farms sustainably.
A 522.24 kWh of battery storage to ensure uninterrupted operations during local power outages.
Over its lifetime, the project is forecasted to have the same environmental impact as avoiding 14,626,250 miles of car travel.
Securing the USDA’s REAP grant showcases the government’s commitment to supporting rural businesses in adopting renewable energy solutions.
Offering Terms
Raise: $980,000; $10 minimum investment
Minimum Raise: $850,000 Maximum Raise: $980,000
10% Annual Interest
2 Year Term
Available until July 28, 2024 – please note that the project might close earlier
10% annual interest based on the number of months elapsed. The investor will receive payment of principal and interest in installment upon completion of:
- Milestone 1: Rural Energy for America Program (REAP) grant, received after showing one month of electricity production data.
The milestone may be completed anytime between 07/28/2024 and 07/28/2026. The expectation is that the milestone occur during the first year.
If you’re interested, download the Climatize App today.
*Every investment involves risk, please read risk disclosures.
Ovanova’s Commitment to Excellence
Ovanova, a trusted General Contractor specializing in solar and storage, is the developer behind the project. Their reach spans 22 states and over 60 utilities. Led by founder John Carey, Ovanova’s expertise and commitment to excellence make them the ideal partner to bring this solar vision to life.
Conclusion
Join Joshua and Howard Dowdy, the owners of Liberty Farms, on their journey to supporting a sustainable and resilient future. Your investment in Solar for Liberty Farms isn’t just a financial commitment; it’s a contribution to a cleaner, greener, and more sustainable community through the solar-harvested energy of the project. Through Ovanova’s work for Solar for Liberty Farms, you can support rural businesses’ transition to solar energy and contribute to a more sustainable tomorrow.
Financial Disclosure
Content is based entirely upon Ovanova’s representations. Prior results do not guarantee future success. It’s important to note that investing in renewable energy projects through crowdfunding carries financial risks and may not be suitable for everyone. As with any investment, there is a possibility that you may lose some or all of the money you invest. It’s important to note that this article should not be considered investment advice. The information provided is for informational purposes only and is not intended to recommend or endorse any particular investment strategy. The information provided in this article is for informational purposes only and should not be considered financial or investment advice. It’s crucial to do your own research and consult with a financial advisor or professional before making any investment decisions, especially when investing in renewable energy projects through crowdfunding, which carries financial risks and may not be suitable for everyone.
Copyright@ Climatize Earth Inc 2023.