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

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place South 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 Residential: $7,000

Residential Geothermal Heat Pump: $15,000 - $20,000
Commercial: $25,000
Commercial Geothermal Heat Pump: $40,000
















Maximum Incentive Residential: $20,000

Commercial: $40,000










Terms Rate: 8.5%
Repayment: 12 to 60 months
Program Administrator Otter Tail Power Company
Website http://www.otpco.com/ProductsServices/Financing.asp
Date added to DSIRE 2006-05-28
Last DSIRE Review 2012-11-13



References DSIRE[1]


Summary

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.


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)"