Otter Tail Power Company - DollarSmart Energy Efficiency Loan Program (Minnesota)

This is the approved revision of this page, as well as being the most recent.
Jump to: navigation, search

Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Minnesota

Name Otter Tail Power Company - DollarSmart Energy Efficiency Loan Program
Incentive Type Utility Loan Program
Applicable Sector Agricultural, Commercial, Industrial, Residential
Eligible Technologies Agricultural Equipment, Boilers, Central Air conditioners, Chillers, Duct/Air sealing, Furnaces, Heat pumps, Heat recovery, Lighting, Motor VFDs, Motors, Refrigerators, Water Heaters, Geothermal Heat Pumps
Active Incentive Yes

Implementing Sector Utility
Energy Category Energy Efficiency Incentive Programs, Renewable Energy Incentive Programs
Amount Residential: $150 - $20,000
Business: $150 - $100,000















Maximum Incentive Residential: $20,000
Business: $100,000

Loans may not exceed 80% of the project's total cost










Terms Competitive Rate: 8.5%
Energy Efficiency Rate: 1.9%
Repayment: up to 60 months for loans of $5,000 or more
Program Administrator Otter Tail Power Company
Website https://www.otpco.com/ProductsServices/Pages/Financing.aspx
Date added to DSIRE 2006-05-28
Last DSIRE Review 2013-04-19



References DSIRE[1]


Summary

Otter Tail Power Company's DollarSmart Financing Program offers $150 - $7,000 loans to residential customers and up to $100,000 loans to its business customers. In addition, residential customers are eligible for financing up to $20,000 for geothermal heat pump installations and $15,000 for the installation of combination electric systems. Customers may use the 8.5% Competitive Rate Plan to finance purchases of new electric technologies, including:

  • Electric heating applications
  • Complete dual fuel systems
  • Electric cooling applications
  • Farm building rewiring
  • New electric water heaters

As part of Minnesota's Conservation Improvement Program, qualifying Minnesota customers are eligible for the 1.9% Energy Efficiency plan to help pay for Conservation Improvement Program (CIP) qualified energy-saving technologies including:

  • Air-source and geothermal heat pumps
  • Commercial lighting and refrigeration
  • Process improvement systems
  • Milk house pre-coolers and stock waterers
  • Heat-recovery systems
  • Motor and variable speed drives.
  Customers should see  the program web site for more information.


Incentive Contact

Contact Name Customer Service - DollarSmart Program
Department Otter Tail Power Company

Address PO Box 496
Address 2 215 S Cascade Street
Place Fergus Falls, Minnesota
Zip/Postal Code 56538-0496
Phone (218) 739-8200
Phone 2 (800) 257-4044


Website http://www.otpco.com/
     
     


















  • 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 (DSIRE)"