U.S. Virgin Islands - Solar Thermal Revolving Loan (Virgin Islands)

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Summary

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
Active Incentive No
Incentive Inactive Date 2012-12-19
Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs
Amount Cost of the system (minus $1,000 rebate) up to $3,500















Maximum Incentive $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
Website http://www.vienergy.org/
Date added to DSIRE 2010-02-12
Last DSIRE Review 2012-12-19
Last Substantive Modification
to Summary by DSIRE
2012-12-19


References DSIRE[1]


Summary

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.


Incentive Contact

Contact Name Don Buchanan

Division Virgin Islands Energy Office
Address 4101 Mars Hill
Address 2 Frederisksted
Place St. Croix, Virgin Islands
Zip/Postal Code 00840
Phone (340) 713-8436 Ext:3612



Website http://www.vienergy.org/
     
     


















  • 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)"