Renewable Energy Incentive Programs Save Tennessee Small Businesses Money

Tennesseans have an opportunity to invest in the local economy and save financially with the recent extension of the Federal Solar Investment Tax Credit, the TVA Green Power Providers program, and the USDA, Rural Energy for America Program (REAP). Knoxville, TN–(January 29, 2016) – Paul Green, owner of Dry Ridge Farms in Loudon, Tennessee, had never thought about “going solar,” until he was approached by a local energy firm in 2015. Paul, a local financial investor, couldn’t believe the savings a system could provide. “If it takes a 6 year buy back (on your solar system), then years 6-20 are all profit, 100%. That is a pretty good pay back.” Green continued, “What kind of investment could you make like that? A piece of real-estate? There is no way could you buy a piece of real-estate and in six years have all your money back. What about the stock market? Could you put money into the stock market and in six years get all your money back with guarantee? Well that would be 14-15% per year, and that wouldn’t happen either.” Energy consumers aren’t the only ones to benefit from the solar boom. According to the Solar Foundation, a nonprofit in Washington D.C., which is not funded by the solar industry, the solar industry added 35,000 jobs in 2015, up 20% from the previous year. SEIA, Solar Energy Industry Association, has announced that with the extension of incentivized programs, the solar industry is expected to add over 200,000 new jobs by 2020. ARiES Solar , a renewable energy firm, started four years ago and employs 11 people, 4 of...