Otter Tail Power Company - Dollar Smart Financing Program (South Dakota)
Last modified on February 12, 2015.
Financial Incentive Program
|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|
|Energy Category||Energy Efficiency Incentive Programs, Renewable Energy Incentive Programs|
|Amount|| Residential: $7,000|
Residential Geothermal Heat Pump: $15,000 - $20,000
|Maximum Incentive|| Residential: $20,000|
|Terms|| Rate: 8.5% |
Repayment: 12 to 60 months
|Program Administrator||Otter Tail Power Company|
|Date added to DSIRE||2006-05-28|
|Last DSIRE Review||2012-11-13|
Otter Tail Power Company's Dollar Smart Financing Program offers loans of $150 - $40,000 to 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 normally $25,000, however, loans of up to $40,000 are available for installing commercial geothermal heat pumps. Contact Otter Tail Power Company for more information on these offerings.
|Contact Name||Customer Service - OTPC|
|Department||Otter Tail Power Company|
|Address||PO Box 496|
|Address 2||215 S Cascade Street|
|Place||Fergus Falls, Minnesota|
|Phone 2||(218) 739-8200|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.