| Implementing Sector | State |
|---|---|
| Category | Financial Incentive |
| State | Tennessee |
| Incentive Type | Loan Program |
| Web Site | https://www.pathwaylending.org/loans/Efficiency-Loans |
| Administrator | Pathway Lending Community Development Financial Institution |
| Funding Source | State of Tennessee, U.S. Department of Energy, U.S. Economic Development Administration, Pathway Lending, Pinnacle Financial Partners and the Tennessee Valley Authority |
| Budget | $33 million |
| Start Date | 08/01/2010 |
| Eligible Renewable/Other Technologies | Solar Photovoltaics, Combined Heat & Power |
| Eligible Efficiency Technologies | Lighting, Heat pumps, Air conditioners, Processing and Manufacturing Equipment, Comprehensive Measures/Whole Building, Custom/Others pending approval |
| Applicable Sectors | Commercial, Industrial, Local Government, Nonprofit, Schools |
| Maximum Loan | $5 million |
| Loan Terms |
100% of cost 4% fixed up to 5 year term 6% fixed for 5-10 year terms Repayment up to 10 years All loan costs may be financed No prepayment penalty Loan recipients must complete a vendor proposal with detailed project energy savings For local governmental entities: Up to 6 years of financing at 4% interest |
Pathway Lending’s Energy Efficiency Loan Program provides Tennessee business and non-profit entities with below-market loans for energy efficiency and renewable energy improvements. All costs related to the efficiency measures may be financed, including assessments, design, equipment, and installation. Any project that reduces utility consumption, across electric, gas, or water, may apply for financing through this program. The loans are designed to allow for energy cost savings derived from each project to provide the repayment of the loan.
Starting in 2016, EELP began offering up to six years of financing for qualified energy efficiency and renewable energy projects to Tennessee local governmental entities, including municipalities, counties, school districts, and other similar public agencies. To be eligible for a loan, a governmental entity must have a complete third-party energy audit, assessment, or vendor proposal that details estimated energy savings.
