Help with Energy Costs

Posted on August 29, 2008 by Daryl Phillips, CEcD

With energy costs increasing, more energy efficiency projects may be cost effective. HCECDA economic development partners TVA, our two power distributors, USDA Rural Development, area universities, and Tennessee Economic & Community Development offer programs to help identify and to help pay for projects to make your business more energy efficient.

TVA Energy Programs

USDA Rural Development
Renewable Energy Systems and Energy Efficiency Improvements Program

University of Memphis Tennessee Energy Institute

U.S. Department of Energy
Energy Efficiency and Renewable Energy

Tennessee Technological University
Tennessee 3-Star Industrial Assessment Center

University of Tennessee Institute for Public Service
Center for Industrial Services – Energy Management

Tennessee Dept. of Economic & Community Development
Tennessee Industrial Technology Program

Tennessee Dept. of Economic & Community Development
Energy Division

For example, Tennessee Department of Economic & Community Development Energy Division has the Tennessee Small Business Energy Loan Program. This program offers a FREE energy audit to identify and quantify energy savings projects. Replacing inefficient heating, air-conditioning, old refrigeration units, motors, or other processing or manufacturing equipment. Even updating lighting can bring significant savings.

Here is the really cool part, they offer a low-interest loan program – up to $100,000 for a maximum of 7 years at 3% interest to finance these money-saving efficiency upgrades. But the really, really cool part — businesses in Three-Star communities (yes, Hickman County just re-certified in the Three-Star program) qualify for 0% interest on the loan.

If you are a business or industry located in Hickman County, contact me for more information.
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About Daryl Phillips, CEcD

I am a professional economic developer. I presently work for communities and companies in developing and implementing workforce and economic development solutions as CEO of Phillips Economic Development Solutions (Phi EDS). Prior to September 2017, I was the economic development professional who served a community team of elected officials, business people, community leaders and dedicated stakeholders for economic development in Cheatham County, Tennessee (pop. 39,880) and its four towns. During my five-year tenure, I served the team as Cheatham County grew over 1,700 jobs, turned around population declines at the start of this decade into healthy population growth, increased tourism expenditures 20.3% and local tax revenue from tourism 25.4%, grew sales tax revenue 36%, focused on developing the local workforce and was recognized by SmartAsset as having the 9th highest Incoming Investment Index of all the 95 counties in Tennessee. I am a member of International Economic Development Council, Southern Economic Development Council, Tennessee Economic Development Council and International Council of Shopping Centers. I have earned the designation of Certified Economic Developer (CEcD) from International Economic Development Council (IEDC), the Economic Development Finance Professional (EDFP) certification from National Development Council and hold a Master of Business Administration from Tennessee Technological University.
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