MEMPHIS, Tenn.—The Tennessee Valley Authority announced Wednesday that it is investing $1 million in the new Share the Pennies Home Weatherization Program for limited income residents in Memphis and Shelby County. The program is sponsored by Memphis Light, Gas and Water and Metropolitan Inter-Faith Association (MIFA).
TVA’s support will help MLGW weatherize about 400 homes in 18 months at no cost to the homeowner. MLGW’s Share the Pennies program will fund the first $4,000 of improvements for each home and TVA will fund remaining costs up to approximately $8,000 per home. TVA is also working to secure other partners and additional funding to weatherize even more homes.
“TVA’s support means an additional $1 million for the program, additional jobs in the community, and more improvements made to each home. As partners, our goal is to make this a sustainable program for the community,” said J.T. Young, President and CEO, MLGW
“Share the Pennies represents a great opportunity for TVA to partner with MLGW and community organizations to help limited income residents save money on their utility bills while making their homes healthier and more comfortable,” said Cindy Herron, vice president of TVA EnergyRight Solutions. “The additional funding doubles the amount of improvements each home will receive.”
Energy upgrades may include weatherization, air sealing, high-efficiency heat pumps, high-efficiency air conditioners, duct replacement/repairs, ENERGY STAR windows, building envelope insulation, high efficiency lighting, crawl space and attic insulation, heat pump water heaters, ENERGY STAR appliances, and/or whole-house ventilation.
MIFA will be pre-screening applicants who qualify with proof of income, home ownership and required tax documentation. Currently, the program is at capacity, but the next application period is scheduled for this summer. For more information, please visit www.mifa.org/sharethepennies.
MLGW will handle final application approvals, a pre-assessment of each home to determine if the home qualifies, and energy education for each homeowner.
TVA will perform pre-audits on the home to determine needed repairs, train and coordinate contractors, and perform post-audits of the improvements completed.
Along with home weatherization, participants will be asked to be part of a study to determine if increased energy efficiency also creates additional benefits such as improved comfort and health for residents of the home. Efforts to quantify the non-energy benefits, especially health, are needed to support existing and increased funding for limited income weatherization.
Share the Pennies encourages MLGW customers to round their utility bill up to the next highest dollar amount. The additional amount, no matter how small, will be added to a fund managed by MIFA. These funds will then be awarded to qualifying homeowners to assist with energy efficiency upgrades.
TVA’s latest investment continues its support for the Memphis community. In 2017, TVA helped fund the CARE for the Community kick off for Share the Pennies and awarded $1.3 million to MLGW’s limited income Home Energy Improvement Program pilot to weatherize 125 homes. This pilot demonstrated streamlined whole home weatherization using a Tennessee Housing Development Agency Weatherization Assistance Program model.
MLGW is the largest three-service public power utility in the nation, serving more than 421,000 customers in Memphis and Shelby County.
The Tennessee Valley Authority is a corporate agency of the United States that provides electricity for business customers and local power companies serving more than 9 million people in parts of seven southeastern states. TVA receives no taxpayer funding, deriving virtually all of its revenues from sales of electricity. In addition to operating and investing its revenues in its electric system, TVA provides flood control, navigation and land management for the Tennessee River system and assists local power companies and state and local governments with economic development and job creation.
Our media staff is available 24 hours a day. If you cannot reach the contact above, please call our media line at 865-632-6000.