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TVA, Local Utilities Double Energy Efficiency Cash Incentive to Businesses
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The Tennessee Valley Authority and local electric utilities are offering a 100-percent increase in cash incentive payments to businesses and industries that participate in the EnergyRight Solutions for Business and Industry program. Effective immediately, TVA will increase the cash incentive payment from 5 cents to 10 cents for each kilowatt-hour saved by businesses that enroll in the program."TVA has made increased energy efficiency a key part of meeting power demand in the Tennessee Valley in the years ahead," said Bob Balzar, TVA vice president of Energy Efficiency and Demand Response."Achieving our corporate vision for providing cleaner, low-cost energy requires ambitious plans to increase energy efficiency.“We want to lead the Southeast in increased energy efficiency, and we can accomplish that through programs that work in partnership with local power companies.“Energy-saving programs help keep overall costs lower for everyone in the region."Balzar said TVA expects more changes in the near future to further encourage energy efficiency.EnergyRight Solutions for Business and Industry, offered through participating local power companies, also provides access to site-specific expert evaluations for energy efficiency improvements. Many of the expert energy-efficiency evaluations offered through the program are free.The TVA and local power companies often share the cost of more complex assessments for large businesses.The assessments offer fact-based information for improving energy efficiency and reducing operating costs.More than 500 companies, large and small, have been evaluated through the program this year.The TVA made more than $4 million in reimbursements to those businesses, resulting in a savings of nearly 123 million kilowatt-hours, which is enough to power nearly 7,800 typical Tennessee Valley-area homes for a year.