U.S. Virgin Islands - Solar Thermal Revolving Loan (Virgin Islands)
Last modified on February 12, 2015.
Financial Incentive Program
|Place||U.S. Virgin Islands|
|Name||Virgin Islands - Solar Thermal Revolving Loan|
|Incentive Type||State Loan Program|
|Applicable Sector||Commercial, Residential, (Small Business Only)|
|Eligible Technologies||Solar Water Heat|
|Incentive Inactive Date||2012-12-19|
|Energy Category||Renewable Energy Incentive Programs|
|Amount||Cost of the system (minus $1,000 rebate) up to $3,500|
|Program Budget||$3.5 Million|
|Terms||Zero down, 1% interest rate, paid back on the utility bill.|
|Program Administrator||Virgin Islands Energy Office|
|Date added to DSIRE||2010-02-12|
|Last DSIRE Review||2012-12-19|
| Last Substantive Modification
to Summary by DSIRE
The Solar Thermal Revolving Loan program is fully subscribed and not currently accepting applications at this time.
Residents and small business owners with gross annual revenues of $500,000 or less, with electricity usage between 1,200 kWh and 2,000 kWh per month, may be eligible for loans for the purchase of solar hot water heaters. These loans are made available with funding from the American Recovery and Reinvestment Act (ARRA) and by a cooperative agreement between the Virgin Islands Energy Office and Virgin Island Water and Power Authority (WAPA), and the Economic Development Authority. Only property owners are eligible. Loan pre-approval is required. Applicants' WAPA accounts must be in good standings. Loans are repaid directly on the monthly WAPA bill.
|Contact Name||Don Buchanan|
|Division||Virgin Islands Energy Office|
|Address||4101 Mars Hill|
|Place||St. Croix, Virgin Islands|
|Phone||(340) 713-8436 Ext:3612|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.