Solar & Battery Regulation & Incentive Programs

Pathway Energy Efficiency Loan Program

Program Overview


Category:
Financial Incentive
Program Type:
Loan Program
Implementing Sector:
State
State:
Tennessee
Eligible Storage Technologies:
Solar Photovoltaics, Combined Heat & Power, Lighting, Heat pumps, Air conditioners, Processing and Manufacturing Equipment, Comprehensive Measures/Whole Building, Custom/Others pending approval
Website:
https://www.pathwaylending.org/loans/Efficiency-Loans
Maximum Loan:
$5 million
100% of cost
Loan Term:
2% fixed up to 5 year term
5% 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 2% interest
Administrator:
Pathway Lending Community Development Financial Institution
Applicable Sectors:
Commercial, Industrial, Local Government, Nonprofit, Schools
Budget :
$33 million
Start Date:
08/01/2010
Last Updated:
07/13/2016
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

Summary

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 costs savings derived from each project to provide the repayment of the loan. As of January 4, 2016, EELP will now offer 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.