Blue skies and rolling mountains aren’t the only appealing local attractions in the great state of Tennessee. Not only are the fields and tree-tops green, but the local options for increasing energy efficiency and introducing hotel energy savings are as well.
The green movement toward environmental responsibility has spawned numerous Federal, State and local programs aimed at reducing energy consumption and waste. For hotels aiming to positively reduce their energy usage impact, Tennessee offers a host of programs designed specifically to assist businesses in becoming leaner and greener operations.
Low-Interest financing Energy Efficient Loans
In a time when the bottom line expenditures of any hotel are monitored extremely closely, many businesses may be interested in retrofitting their organization with more energy efficient technologies. In Tennessee, a state-wide program offers eligible businesses with the opportunity to offset the initial costs of such changes with low-interest energy efficiency loans.
Under this program, financing rates from 3%-5% are available to Tennessee business owners to conduct alterations to their facilities in order to reduce cost and save on energy consumption. Eligibility requirements vary based on business type; however these programs afford a less expensive option to take advantage of several energy-reducing technologies such as:
LED Lighting upgrades
Occupancy-Based Energy Management Systems
Hot Water Boiler Management Systems
Liquid Pool Blanket
Recycling and Waste Management
With these loan programs, rates are fixed at below-market value values to maximize return for the applicant. Worried about up-front costs? These loans have NO out-of-pocket expenses or hidden fees. Not only that, but you can receive up to 100% financing for your project. Imagine being able to include all of the design, engineering and implementation costs of your project within the terms of the loan! The savings here alone are amazing and immediate. Once completed, the energy savings from your technology upgrade begin repaying the value of the loan from day one.
TVA- Energy Right Solutions for Business
The Tennessee Valley Authority (TVA) offers cash incentives and rebate programs to businesses seeking to make the change from more inefficient or outdated technologies. This program is comprehensive and includes different types of big-ticket components. Do you have an older, inefficient HVAC system? You can receive a rebate for upgrading to a more energy-efficient model. Are you about ready to switch from incandescent bulbs to LED? You can receive cash back for the retro-fit. Some of the efficiency technologies that qualify for the cash incentive are:
The benefits of this program can be substantial to the business. For prescriptive measures, the maximum incentive is $100,000 or 50% of cost per facility per year. For custom projects, a business can be eligible for up to $200,000 or 50 percent of cost per facility per year. Couple these incredible incentives with the energy savings from your new energy efficient technologies and just watch the money multiply into bottom line savings.
The responsible energy consumption trend is expanding nationwide. The value in this movement is real, and state and local agencies are seeing the value in being ahead of the wave of change. In Tennessee alone there are numerous programs available to promote more responsible and energy-friendly business practices.
Performance Based incentives
Sales Tax Incentives
Property Tax Incentives
State Grants and Loan Programs
Utility Loans and Rebate Programs
The options for financial savings and a reduced energy footprint are real and within reach. Not only do these programs assist businesses in reducing consumption and costs, they promote social responsibility in a more eco-conscious society. Why not take advantage of these programs and take a step toward a leaner and greener business model?
To hear more about EcoGreenHotel’s sustainable solutions for hotels contact us at info@EcoGreenHotel.com