Otter Tail Power Company - Dollar Smart Financing Program (North Dakota)

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place North Dakota

Name Otter Tail Power Company - Dollar Smart Financing Program
Incentive Type Utility Loan Program
Applicable Sector Commercial, Residential
Eligible Technologies Central Air conditioners, Duct/Air sealing, Furnaces, Heat pumps, Heat recovery, Lighting, Motor VFDs, Motors, Refrigerators, Water Heaters, Geothermal Heat Pumps, Thermal Storage, Process Improvement Systems, Building Rewiring, Other Electric Cooling Applications
Active Incentive Yes

Implementing Sector Utility
Energy Category Energy Efficiency Incentive Programs, Renewable Energy Incentive Programs
Amount Minimum: $150















Maximum Incentive Loans may not exceed 80% of projects total cost

General Residential: $7,000
Geothermal for Residential: $20,000
Dual Fuel for Residential: $15,000
General Business: $25,000
Geothermal for Business: $40,000










Terms Rate: 8.5%
Repayment: 12-60 months
Program Administrator Otter Trail Power Company
Website https://www.otpco.com/ProductsServices/Pages/Financing.aspx
Date added to DSIRE 2008-11-17
Last DSIRE Review 2012-12-17



References DSIRE[1]


Summary

Otter Tail Power Company's Dollar Smart Financing Program offers $150 - $40,000 loans to its residential and business customers. Customers who have satisfactory 12-month payment histories with Otter Tail or another utility may use the 8.5% interest rate loan to finance purchases of new electric technologies. Loans may not exceed 80 percent of the project's total cost, and the maximum residential loan is $7,000 with the exception of geothermal heat pump installations and combination electric systems such as a thermal storage central furnace with an air source heat pump, which are eligible for up to $20,000 in financing. The maximum loan amount for businesses is $25,000, or $40,000 if installing a commercial geothermal heat pump. Other projects may be available for CIP financing, which provides rebates up to $100,000. Contact Otter Tail Power Company for more program information.


Incentive Contact

Contact Name Customer Service - OTPC
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 (800) 257-4044
Phone 2 (218) 739-8200


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)"