New TVA Report Details Efforts to Empower Sustainable Communities
- Sustainability Report shares TVA’s integrated approach to sustainability, driving toward a clean energy economy
- TVA programs promote energy equity, renewable energy, and innovation
KNOXVILLE, Tenn., May 4, 2022 /PRNewswire/ — The Tennessee Valley Authority, the nation’s largest public power provider, released its Fiscal Year 2021 Sustainability Report on Wednesday, sharing the agency’s comprehensive efforts to be a national leader in environmental, social and governance initiatives as it creates a more sustainable future across seven states.
“Sustainability is deeply rooted in TVA’s culture, and it’s our cornerstone as we deliver innovative solutions that are transforming our seven-state region and beyond,” said Jeff Lyash, TVA President & CEO. “With a track record of sustainability leadership, we are looking ahead – building a future that leaves no one behind in the new clean energy economy.”
Building Sustainable Communities
Through solar energy, transportation electrification, advanced nuclear technology and energy justice efforts, TVA uses sustainability as a competitive advantage to attract jobs and investment. The agency’s mission is to position itself and the communities it serves as sustainability leaders as the nation drives toward net-zero emissions.
Today, many companies select the Tennessee Valley to do business because of TVA’s low-cost, reliable and clean energy. For example, in April, Envision AESC, a world-leading electric vehicle battery technology company, announced a 2,000 job, $2 billion investment to build a new battery factory in Bowling Green, KY, because of TVA’s renewable energy programs.
“Our region is the nation’s premier destination for business, and a big reason for that is because of TVA’s sustainability efforts,” said Lyash. “Soon 2,000 families will have good jobs and the Envision’s facility will be powered by 100% renewable energy.”
Sustainability at TVA
This year’s sustainability report highlights actions TVA has made – and will continue to make – to assist communities through the clean energy transition.
Clean Energy Economy
- Partnered to bring 80,900 jobs and $8.8 billion in capital investments to the Valley.
- Purchased $1.2 billion from small and diverse businesses.
- Averted $170 million in flood damage in the Tennessee Valley.
- Helped 34 small businesses make free energy upgrades to lower their energy bills through the Community-Centered Growth program.
- Launched the Green Connect program to create a qualified solar contractor network for residential customers who want to install solar.
Equitable Energy Transition
- Focused on equity, launching an internal environmental justice core team.
- Helped more than 750 families with high energy burden make free energy upgrades improving their physical and mental health while saving them an average of 25% on their power bills.
- Provided $8 million in education grants K-12 public schools to make classrooms more efficient and safer and prepare over 106,000 students for STEM careers.
- Invested $3.3 million to ensure equitable access to services, economic empowerment, and energy and environmental justice.
- Reduced carbon emission by 57% in FY21 from 2005 levels.
- Announced the first green bond offering, locking in $2 billion in sustainable financing options to fund energy innovations.
- Invested over $2 billion in transmission system improvements, through 2025.
- Launched the Fast Charge Network program to expand charging infrastructure and increase electric vehicle adoption.
- Partnered with Kairos Power to deploy a low-power demonstration advanced nuclear reactor at Oak Ridge, TN.
“There is no single answer to achieving our nation’s sustainability targets,” said Lyash. “What is important is that we take all the actions necessary to deploy the world’s most advanced clean energy programs and technologies, as well as invest in our communities, to help the people of the Tennessee Valley and support our nation’s climate and energy security goals.”
TVA places a high priority on transparency. TVA’s 2021 Sustainability Report was developed with the input from customers, communities, local power companies and environmental advocacy organizations to simply tell the region’s decarbonization journey.
Additional reports on TVA’s diversity and inclusion efforts, strategic planning, financial health, new nuclear program and more can be reviewed at tva.com/about-tva/reports.
The Tennessee Valley Authority is a corporate agency of the United States that provides electricity for business customers and local power distributors serving nearly 10 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.
Editor’s Note: Click here for the report graphics.
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SOURCE Tennessee Valley Authority