An environmental resource for East Tennessee Businesses

Shifting solar incentives jeopardize future projects

Brittany Cofer of the Chattanooga Times Free Press reports dozens of local companies have taken advantage of solar incentives from the Tennessee Valley Authority and grants like those from the Tennessee Solar Institute.

Officials estimate projects using federal and state incentives can pay for themselves in as few as five years.

But the state funds that offset 30 percent of the cost have run dry, and the federal grant that covered 40 percent reverted to a tax credit at the beginning of the year, knocking out 70 percent of potential financial help for what is a costly undertaking, said Greenspaces co-director, Jeff Cannon.

With fewer incentives, project payback may stretch to 12 years, he said, which is less attractive to businesses in the current economy.

Read the full story at the Times Free Press.

Enhanced by Zemanta

About this Archive

This page is an archive of entries from November 2016 listed from newest to oldest.

October 2016 is the previous archive.

Find recent content on the main index or look in the archives to find all content.