Tennessee

Incentives/Policies for Energy Efficiency

Energy Efficient Schools Initiative - Loans

Last DSIRE Review: 06/07/2012

Program Overview:

State:	Tennessee
Incentive Type:	State Loan Program
Eligible Efficiency Technologies:	Lighting, Lighting Controls/Sensors, Chillers , Furnaces , Boilers, Heat pumps, Central Air conditioners, Programmable Thermostats, Energy Mgmt. Systems/Building Controls, Motors, Motor VFDs, Comprehensive Measures/Whole Building, Custom/Others pending approval, Unspecified Technologies, Food Service Equipment
Eligible Renewable/Other Technologies:	Geothermal Heat Pumps
Applicable Sectors:	Schools, (K-12)
Amount:	$66/student
Maximum Incentive:	$1 million/district for EESI loans and $5 million for guaranteed energy savings project loans
Terms:	0% interest for 10 years and .75% interest for 12 years
Funding Source:	Appropriated from Excess State Lottery Funds (2008); Council may raise other funds
Program Budget:	$90 million
Web Site:	http://www.tn.gov/eesi/finance_inc.shtml

Summary:

Applications are now being considered on a case-by-case basis. School districts interested in applying for loans should contact Ron Graham, Executive Director of the Energy Efficient Schools Initiative, directly.

The Energy Efficient Schools Initiative (EESI) was created in May 2008 to provide grants and loans to Tennessee school systems for capital outlay projects that meet energy efficient design and technology guidelines for school facilities. All school systems in Tennessee are eligible to apply. Possible projects include lighting upgrades, HVAC upgrades, and other projects that meet pre-determined energy use objectives. The maximum loan is $66/student (at the district level).

School districts that already executed loans totaling less than $1 million cannot refinance existing loans, but they can apply for an additional loan as long as the combined total does not exceed $1 million. In addition, the Technical Advisory Committee will review $30 million worth of loans, which have a $5 million cap per school district. The committee will submit its choices to the EESI Council.

State government appropriated the original funding ($90 million) with a onetime transfer from the Lottery for Education Account reserve and Lottery for Education special reserve account for K-12 capital outlay. Additional money to the fund comes from interest earnings and other funds secured by the Energy Efficient Schools Council. The Council is part of the Department of Education.

Contact:

EESI Program Administrator
Energy Efficient Schools Initiative
710 James Robertson Parkway
12th Floor, Andrew Johnson Tower
Nashville, TN 37243
Phone: (615) 532-8273
Fax: (615) 532-5942
E-Mail: eesi.admin@tn.gov
Web Site: http://tn.gov/eesi/

Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

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