MONTGOMERY— An Alabama manufacturer will be recognized by a regional organization Tuesday as an example of how energy efficiency upgrades can help businesses reduce operating expenses, better compete in today’s economy and potentially provide more employment opportunities.
Wise Alloys in Muscle Shoals recently combined a loan from the AlabamaSAVES energy loan program with rebates from a Tennessee Valley Authority program to complete energy-saving upgrades that will save an estimated $1.7 million per year. Wise Alloys is the third largest manufacturer of aluminum stock for food and beverage cans in the United States and employs 1,100 workers.
The event by the Industrial Energy Efficiency Network will showcase the company’s sustainability efforts and demonstrate how investment in energy 
efficiency has helped create an up-to-date facility. Industrial Energy Efficiency Network is a regionally focused collaborative effort that unites energy management personnel from industries to meet and discuss challenges and successes in energy efficiency.
Wise Alloys is just one of 37 Alabama businesses saving a combined $4.6 million per year in energy costs by taking advantage of AlabamaSAVES. The Alabama Department of Economic and Community Affairs created the revolving loan program to provide state businesses with low-cost loans for energy-efficiency upgrades. The upgrades reduce operating expenses so much that savings exceed loan repayments, creating extra cash flow for the business. Since awarding the first loan in June 2011, AlabamaSAVES has approved more than $22.5 million in loans for energy upgrades.
“Word is getting out that ADECA’s AlabamaSAVES program is a valuable resource for businesses seeking to increase their bottom line,” ADECA Director Jim Byard Jr. said. “We look forward to helping more Alabama businesses reduce energy expenses and expand job opportunities for our residents.”
A range of businesses across the state have taken advantage of AlabamaSAVES loans, including large and small industrial companies, office buildings, hotels, retail businesses, and even a llama farm. Nonprofit groups and private schools also have used the loan program.
ADECA established AlabamaSAVES with funds made available to the state by the U.S. Department of Energy’s 
State Energy Program. Loans of $50,000 to $4 million are available to help finance energy-saving improvements. Partnerships with private lenders have increased the initial loan pool from $25 million to $65 million. To date, 17 banks and lenders have participated in the program.
Interest rates for the loans are currently as low as 1 percent. Projects are evaluated on potential for sustainable energy savings, cost savings, renewable energy generation, emissions reductions and job creation and retention. Businesses wanting to convert fleet vehicles to run on propane, liquefied natural gas or compressed natural gas also are eligible for AlabamaSAVES loans. As loans are repaid, the fund is replenished and available to finance additional projects.
Abundant Power, a firm that collaborates with states and municipalities to design, administer and finance energy-efficiency and renewable energy programs, is helping ADECA administer AlabamaSAVES.
For more information about the program, go to www.alabamasaves.com. Additional information about the Industrial Energy Efficiency Network is available at www.industrialee.org.
