TVA, Local Utilities Double Energy Efficiency Cash Incentive to Businesses
October 13, 2011
KNOXVILLE, Tenn. – 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. 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. 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.
"We encourage companies that haven't taken a hard look at power expenses and energy efficiency to take advantage of this new incentive," Balzar said. "Energy efficiency is a clean, carbon-free resource that helps keep electricity costs lower for everyone, which is something every business owner can appreciate."
The EnergyRight Solutions for Business and Industry program is open to all small business and commercial customers, including schools, hospitals, government offices and institutions. Industrial customers with a contract demand of 5,000 kilowatts or less can also participate. To participate in these or other TVA energy efficiency programs, visit the TVA energy efficiency website at www.EnergyRight.com.
The Tennessee Valley Authority, a corporation owned by the U.S. government, provides electricity for 9 million people in parts of seven southeastern states at prices below the national average. TVA, which receives no taxpayer money and makes no profits, also provides flood control, navigation and land management for the Tennessee River system and assists utilities and state and local governments with economic development.
Mike Bradley, Knoxville, (865) 632-8600
Media Relations, Knoxville (865) 632-6000