*Program discontinued The Tennessee Department of Economic & Community Development offers low-interest loans of up to $300,000, with terms of up to 7 years, for energy efficiency projects and other projects shown to save energy or decrease energy demand. Businesses with fewer than 300 employees or less than $3.5 million in annual gross sales or receipts are eligible. The loan is offered with a 0% interest rate for businesses in the Three-Star communities, and at a 3% interest rate for all others. Loans cannot be used for new construction or business start-up. All renewable energy technologies are eligible under the program's guidelines. In addition to low-interest loans, the Energy Division offers free audits and technical assistance.
| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | Tennessee |
| Incentive Type: | Loan Program |
| Web Site: | http://www.tennessee.gov/ecd/bero/loan.html |
| Administrator: | Tennessee Department of Economic & Community Development |
| Start Date: | 9/28/1987 |
| Eligible Renewable/Other Technologies: |
|
| Maximum Loan: | $300,000 |
| Loan Term: |
3% for up to 7 years (0% for communities certified as "Three-Star") Must have fewer than 300 employees, less than $3.5 million in annual gross sales, and be located in Tennessee |
| Name: | Tenn. Code § 4-3-710 |
| Date Enacted: | 6/19/1987 |
| Effective Date: | 9/28/1987 |
| Name: | Tenn. Code § 4-3-702 |
| Name: | Jeff Bolton |
| Organization: | Tennessee Department of Economic & Community |
| Address: |
312 8th Avenue, North, 10th Floor Nashville TN 37243-0405 |
| Phone: | (615) 741-6671 |
| Email: | jeff.bolton@state.tn.us |
| Name: | Molly Cripps |
| Organization: | Tennessee Department of Economic & Community |
| Address: |
312 8th Avenue, North, 10th Floor Nashville TN 37243-0405 |
| Phone: | (615) 741-2994 |
| Email: | molly.cripps@state.tn.us |
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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