Geothermal Heat Pump Loans
With board approval, financing for up to 50 percent of the cost of purchase and installation of a closed loop heat pump at a location served by Dakota Valley Electric -- not to exceed $10,000--is available to members of the cooperative. The term of the loan will be 5 percent interest for a maximum of 7 years, to be repaid in monthly installments.
Electrical Equipment Purchases from Dakota Valley Service Corporation
DVEC offers 7% interest loans to qualifying members for the purchase and installation of electric wiring and electrical equipment from James Valley Services Corporation, a subsidiary of Dakota Valley Electric Cooperative.
The maximum loan amount for any member is $5,000 for up to 36 months; to be repaid monthly. A 20% down payment is required.
Energy Resource Conservation Loans
Members may finance weatherization projects, such as adding insulation and replacing windows and doors, at an interest rate of 5% annually.
The terms of the loan, to be repaid monthly, will vary depending on the amount borrowed.
Well-Site Solar Power Loans
With Board approval, Dakota Valley members may finance the purchase and installation of solar power equipment designed to power water well equipment.
Solar equipment qualifying for these programs includes solar collectors, solar trackers, voltage controller, disconnect switch and well pump.
The maximum loan amount is $5000 for up to 5 years at 5% interest; to be repaid monthly. A 10% downpayment is required. The actual length of the loan will vary depending on the amount borrowed.
For more information, contact Dakota Valley Electric at
800-342-4671 or email to pats@dakotavalley.com
or kathyr@dakotavalley.com
