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North Dakota

North Dakota

Incentives/Policies for Renewables & Efficiency

Printable Version
Otter Tail Power Company - Dollar Smart Financing Program   

Last DSIRE Review: 12/17/2012
Program Overview:
State: North Dakota
Incentive Type: Utility Loan Program
Eligible Efficiency Technologies: Refrigerators, Water Heaters, Lighting, Furnaces , Heat pumps, Central Air conditioners, Heat recovery, Duct/Air sealing, Motors, Motor VFDs, Custom/Others pending approval, Unspecified Technologies, Thermal Storage, Process Improvement Systems, Building Rewiring, Other Electric Cooling Applications
Eligible Renewable/Other Technologies: Geothermal Heat Pumps
Applicable Sectors: Commercial, Residential
Amount:Minimum: $150
Maximum Incentive:Loans may not exceed 80% of projects total cost
General Residential: $7,000
Geothermal for Residential: $20,000
Dual Fuel for Residential: $15,000
General Business: $25,000
Geothermal for Business: $40,000
Terms:Rate: 8.5%
Repayment: 12-60 months
Web Site: https://www.otpco.com/ProductsServices/Pages/Financing.aspx
Summary:

Otter Tail Power Company's Dollar Smart Financing Program offers $150 - $40,000 loans to its 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 $25,000, or $40,000 if installing a commercial geothermal heat pump. Other projects may be available for CIP financing, which provides rebates up to $100,000. Contact Otter Tail Power Company for more program information.  General household appliances such as refrigerators, ranges, dishwashers, etc. do not qualify for DollarSmart financing.


 
Contact:
  Customer Service - OTPC
Otter Tail Power Company
PO Box 496
215 S Cascade Street
Fergus Falls, MN 56538-0496
Phone: (800) 257-4044
Phone 2: (218) 739-8200
Web Site: http://www.otpco.com
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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 2013 - 2014 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.