The Tennessee Department of Environment and Conservation is launching the next phase of the state's Qualified Energy Conservation Bond Program for energy saving capital projects. The bonds were created by Congress in 2008 and expanded the following year by the American Recovery and Reinvestment Act.
Tennessee's total allocation for the program is approximately $64.7 million. More than $18.1 million has been, or is currently scheduled to be issued for qualifying projects by jurisdictions automatically eligible under the federal legislation. The program will make the remaining $46.6 million available for qualifying projects. Entities eligible to participate in the program include all local government jurisdictions in Tennessee, along with public universities. Local governments can issue the bonds on behalf of a private project, with conditions.