Title 7, AgricultureRelease 119-110
§940g Electric Loans for Renewable Energy
Title 7 › CHAPTER 31 — RURAL ELECTRIFICATION AND TELEPHONE SERVICE › SUBCHAPTER III — RURAL ELECTRIC AND TELEPHONE DIRECT LOAN PROGRAMS › § 940g
Summary
The Secretary may lend money for electric generation that uses renewable sources (solar, wind, hydropower, biomass, geothermal) so the power can be sold to rural or nonrural residents, and the loan rate must equal the average tax-exempt municipal bond rate for similar maturities.
Full Legal Text
Title 7, §940g
Agriculture, Source: USLM XML via OLRC
(a)Definition of renewable energy source
In this section, the term “renewable energy source” means an energy conversion system fueled from a solar, wind, hydropower, biomass, or geothermal source of energy.
(b)Loans
In addition to any other funds or authorities otherwise made available under this chapter, the Secretary may make electric loans under this subchapter for electric generation from renewable energy resources for resale to rural and nonrural residents.
(c)Rate
The rate of a loan under this section shall be equal to the average tax-exempt municipal bond rate of similar maturities.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Codification Pub. L. 110–234 and Pub. L. 110–246 enacted identical sections. Pub. L. 110–234 was repealed by section 4(a) of Pub. L. 110–246.
Statutory Notes and Related Subsidiaries
Effective Date
Enactment of this section and repeal of Pub. L. 110–234 by Pub. L. 110–246 effective May 22, 2008, the date of enactment of Pub. L. 110–234, see section 4 of Pub. L. 110–246, set out as a note under section 8701 of this title.
Reference
Citations & Metadata
Citation
7 U.S.C. § 940g
Title 7, Agriculture
Last Updated
Sep 22, 2026
Release point: 119-110