Businesses in the US are expected to save nearly $45 billion (£27.6bn) on their energy bills, thanks to funding announced for energy efficiency and renewable projects.

The US Department of Agriculture (USDA) is providing $68 million (£41.6m) for 540 projects across the country through its Rural Energy for America Programme (REAP).

Projects include installing biomass, wind turbines and solar power plants and making energy-saving improvements.

Agriculture Secretary Tom Vilsack said: “These loan guarantees and grants will have far-reaching impacts nationwide, particularly in the rural communities where these projects are located.

“Investing in renewable energy and energy efficiency will continue the unprecedented increase in home-grown energy sources and American energy independence we’ve seen in recent years.”