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Otter Tail Power Company - DollarSmart Energy Efficiency Loan Program

Last Review: 2013-04-19
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-ASDs/VSDs, Agricultural Equipment, Geothermal Heat Pumps
Applicable Sectors: Commercial
Terms: Competitive Rate: 8.5%
Energy Efficiency Rate: 1.9%
Repayment: up to 60 months for loans of 5,000 or more
Incentive Amount: Residential: 150- 20,000
Business: 150- 100,000
Website: https://www.otpco.com/ProductsServices/Pages/Financing.aspx

Summary:

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.


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

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