North Dakota

Incentives/Policies for Renewables & Efficiency

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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