Clean Energy Financing
The TDEC Office of Energy Programs (OEP) supports and promotes several clean energy financing programs. Projects financed by these programs include energy efficiency upgrades, renewable energy power installations, and more.
Energy Efficiency and Renewable Energy Loan Program
The Energy Efficiency and Renewable Energy Loan Program launched in 2010 to assist Tennessee entities in implementing energy efficiency and renewable energy improvements. Pathway Lending, a US Treasury certified community development financial institution, oversees the $33 million revolving loan fund. Eligible projects under the Program include, but are not limited to: energy efficient equipment upgrades; lighting; building envelope retrofits; renewable energy installations; and more. Qualifying entities can apply for loans between $20,000 and $5 million.
Qualified Energy Conservation Bonds (QECBs)
QECBs are low-interest federal bonds (via subsidy) that were available for issuance for qualified energy efficiency, renewable energy, and energy conservation capital projects. Under Tennessee statute, OEP is tasked with serving as the coordinator and administrator of the State’s QECB program in partnership with the Tennessee Local Development Authority. Although QECBs are no longer available, OEP continues to collect and report on data related to previously issued QECB projects. Learn more about these projects here.
TVA’s EnergyRight Solutions for Business + Industry
When qualifying companies make an investment in energy upgrades through the Tennessee Valley Authority’s EnergyRight Solutions for Business + Industry program, they may be eligible for an incentive payment to offset some of their costs. Standard incentives are open to all qualifying companies for costs associated with non-road electric vehicles, new construction and building revitalization, high-volume low-speed fans, HVAC, ovens and fryers, thermal storage, and more. Custom incentives may also be available upon request. Visit the EnergyRight Solutions page to learn more.
Rural Energy for America Program (REAP)
Each year, the U.S. Department of Agriculture provides loan financing and grant funding through REAP to agricultural producers and rural small businesses for renewable energy systems and energy efficiency improvements. Funds may be used for a variety of energy efficiency projects, including insulation, lighting, replacement of doors and windows, and more. Funds may also be used for the acquisition and installation of renewable energy systems, including biomass, geothermal, hydropower, wind, and solar. Visit the REAP webpage to learn more.
TVA's EnergyRight Solutions for Business + Industry photo, "Energy Audit," by Dennis Schroeder, NREL. All other photos courtesy of TDEC OEP staff, Wikimedia Commons, or Pixabay.com.