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Incentives/Policies for Energy Efficiency

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Otter Tail Power Company - DollarSmart Energy Efficiency Loan Program   

Last DSIRE Review: 10/08/2014
Program Overview:
State: Minnesota
Incentive Type: Utility Loan Program
Eligible Efficiency Technologies: Refrigerators, Water Heaters, Lighting, Chillers , Furnaces , Boilers, Heat pumps, Central Air conditioners, Heat recovery, Duct/Air sealing, Motors, Motor VFDs, Agricultural Equipment, Food Service Equipment
Eligible Renewable/Other Technologies: Geothermal Heat Pumps
Applicable Sectors: Commercial, Industrial, Residential, Agricultural
Amount:Residential: $150- $20,000
Business: $150- $100,000
Maximum Incentive:Residential: $20,000
Business: $100,000
Loans may not exceed 80% of the project's total cost
Terms:Competitive Rate: 8.5%
Energy Efficiency Rate: 1.9%
Repayment: up to 60 months for loans of $5,000 or more
Web Site:

Otter Tail Power Company's DollarSmart Financing Program offers $150 - $7,000 loans to residential customers and up to $100,000 loans to its business customers. In addition, residential customers are eligible for financing up to $20,000 for geothermal heat pump installations and $15,000 for the installation of combination electric systems. Customers may use the 8.5% Competitive Rate Plan to finance purchases of new electric technologies, including:

  • Electric heating applications 
  • Complete dual fuel systems 
  • Electric cooling applications 
  • Farm building rewiring 
  • New electric water heaters

As part of Minnesota's Conservation Improvement Program, qualifying Minnesota customers are eligible for the 1.9% Energy Efficiency plan to help pay for Conservation Improvement Program (CIP) qualified energy-saving technologies including:

  • Air-source and geothermal heat pumps
  • Commercial lighting and refrigeration
  • Process improvement systems
  • Milk house pre-coolers and stock waterers
  • Heat-recovery systems
  • Motor and variable speed drives.

Customers should see the program web site for more information.

  Customer Service - DollarSmart Program
Otter Tail Power Company
PO Box 496
215 S Cascade Street
Fergus Falls, MN 56538-0496
Phone: (218) 739-8200
Phone 2: (800) 257-4044
Web Site:
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2014 - 2015 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.