You are here

Otter Tail Power Company - DollarSmart Energy Efficiency Loan Program

Eligibility 
Commercial
Industrial
Residential
Agricultural
Savings Category 
Geothermal Heat Pumps
Refrigerators/Freezers
Water Heaters
Lighting
Chillers
Furnaces
Boilers
Heat Pumps
Air conditioners
Heat recovery
Duct/Air sealing
Motors
Motor VFDs
Agricultural Equipment
Food Service Equipment
Program Info
Sector Name 
Utility
Administrator 
Otter Tail Power Company
State 
Minnesota
Program Type 
Loan Program
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.

Note: Balance in full is required if the loan recipient terminates electric service from the Otter Tail Power Company, sells or transfers title to a home or business, or moves property out of the Otter Tail Power Company service territory.