Great news for Tennessee businesses who are looking for ways to save money. Pathway Lendinghas recently announced it is expanding financing for the Energy Efficiency Loan Program to allow for bigger projects. Originally announced last August, the Tennessee Energy Efficiency Loan Programwas created to help Tennessee companies finance investments in energy efficient technology, energy retrofits, and renewable energy systems. The loans are offered at a below-market rate of 5 percent with terms extending to 10 years and amounts now range anywhere from $200,000 to $5M. Perhaps best of all, no out-of-pockets expenses are required as all costs are able to be financed.
Did you know that after an average weatherization project you can expect to see your energy bill go down 30%? With Pathway Lending’s flexible term lengths, you can stretch payments out and experience savings now, or you can pay off the loan quicker and still pay using only the savings in energy usage. Either way, the project pays for itself and creates real savings. Plus it’s good for the environment.
One of the requirements to acquiring one of these loans is that a detailed energy audit must be performed with estimated savings. As mentioned in the Memphis Business Journal and theMemphis Flyer, Lab Four offers training toward becoming a BPI certified energy auditor, and we can point you to a certified contractor. If you want to take part in the boom in energy efficiency upgrade work, contact us to attend our upcoming Weatherization Bootcamp from May 9th – 14th and get certified.