Dakota Electric Association - Residential Energy Conservation Loan Program (Minnesota)
Last modified on May 24, 2011.
Financial Incentive Program
|Name||Dakota Electric Association - Residential Energy Conservation Loan Program|
|Incentive Type||Utility Loan Program|
|Eligible Technologies||Lighting, Windows, Doors, Comprehensive Measures/Whole Building, Custom/Others pending approval|
|Energy Category||Energy Efficiency Incentive Programs|
|Amount||1,000 - 10,000|
|Terms|| Rate: 7.99%|
Repayment: up to 5 years
|Program Administrator||Dakota Electric Service|
|Date added to DSIRE||2006-09-25|
|Last DSIRE Review||2010-02-23|
Dakota Electric, in association with Anchor Bank, provides loans to assist residential customers to finance energy efficient improvements to their homes. The loans range from $1,000 and $10,000 and can only be used for energy conservation projects. The interest rate is fixed at 7.99%, but is adjusted quarterly for future loans. Interested customers should call to verify the current rate.
Loan applications are available from Dakota Electric upon request and need to be submitted along with a copy of the most recent pay stubs for each borrower as proof of income. If any borrower is self-employed, they need to provide a copy of the first two pages of their most recent federal tax return. Additional information may be found on the program website.
|Contact Name||Energy Experts|
|Department||Dakota Electric Service|
|Address||4300 220th Street West|
|Phone 2||(800) 874-3409|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.