Bond Program to Accept Additional Applications for Energy Conservation Projects

The Tennessee Department of Environment and Conservation’s Office of Energy Programs announced today a re-release of the State’s Qualified Energy Conservation Bond (QECB) Program’s Request for Proposals (RFP), which details how local governments can apply for low-interest bonds to finance qualified energy savings projects.

QECBs were created by Congress in 2008 and expanded in 2009 by the American Recovery and Reinvestment Act. Of the State’s total $64.67M allocation, approximately $40 million has been, or is currently scheduled to be issued for qualifying projects by jurisdictions automatically eligible under the federal legislation or through previous competitive sub-allocation processes.

Following two rounds of sub-allocations in 2014, the QECB program will make the remaining funds available for qualifying projects until bond capacity is exhausted. Tennessee’s total remaining allocation for the program is expected to fluctuate due to pending issuances under the previously approved sub-allocations and any additional re-allocations from large local jurisdictions. (To learn more about the re-allocation process, please visit http://www.tennessee.gov/environment/energy_qualified-energy-conservation-bonds.shtml.)

Entities eligible to participate in the program include all local jurisdictions in Tennessee, including city and county governments. Local jurisdictions can issue the bonds on behalf of a private project, with conditions. The RFP is available at http://www.tennessee.gov/environment/energy_qualified-energy-conservation-bonds.shtml.

For more information on the QECB program, please contact Luke Gebhard in TDEC’s Office of Energy Programs at (615) 532-8798 or luke.gebhard@tn.gov.