Commonwealth's Energy Leasing Program (Virginia)

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Virginia

Name Commonwealth's Energy Leasing Program
Incentive Type Leasing Program
Applicable Sector State Government, Institutional
Eligible Technologies Equipment Insulation, Lighting, Energy Mgmt. Systems/Building Controls, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows, Doors, Siding, Motors, Custom/Others pending approval, Solar Water Heat, Solar Thermal Electric, Photovoltaics, Wind, Biomass, Geothermal Electric, Geothermal Heat Pumps, CHP/Cogeneration, Other Distributed Generation Technologies
Active Incentive Yes

Implementing Sector State/Territory
Energy Category Energy Efficiency Incentive Programs


























Terms 12 and 15 years (shorter terms may be available from the

Treasury Board’s Commonwealth's Master Equipment Leasing Program)
The term may not exceed the aggregate useful life of the equipment/project.
Interest rates are indexed to 10 year Constant Treasury Note published by the Federal Reserve, For 2014 Interest rate set at 2.1344% for 12 year term and 2.5056% for 15 year term.

Program Administrator Virginia Department of Treasury
Website http://www.trs.virginia.gov/Debt/leasing.aspx
Date added to DSIRE 2006-10-27
Last DSIRE Review 2014-11-06



References DSIREDatabase of State Incentives for Renewables and Efficiency[1]


Summary

Lease financing administered by the Department of Treasury provides funding for energy efficiency projects in state facilities operated by state agencies, authorities and institutions of the Commonwealth of Virginia. The Energy Leasing Program allows for the purchase of services and equipment required to develop, design, and install an energy efficiency project. Agencies can finance energy projects at a minimum of $100,000 and will make repayments over 12 or 15 year terms.

The funds can be used to finance projects with relevant energy efficient technology, such as lighting and motor efficiency upgrades, building envelope enhancements, distribution system improvements, and energy management controls. It is the responsibility of the individual agency to ensure that energy projects are in accordance with§4-4.01(u) of the General Provisions of the Appropriations Act.


Visit the Commonwealth's Energy Leasing Program online for more information.


Incentive Contact

Contact Name Debora Greene
Department Virginia Department of the Treasury

Address 101 North 14th Street

Place Richmond, Virginia
Zip/Postal Code 23219
Phone (804) 225-2142
Phone 2 (804) 371-6235

Email debora.greene@trs.virginia.gov
Website http://www.trs.virginia.gov/
     
     

Authorities (Please contact the if there are any file problems.)

Authority 1: Va. Code § 2.2-2417




Authority 2: Treasury Board's Energy Leasing Program
Date Effective 2011-07-01



















  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency"