| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | Virginia |
| Incentive Type: | Leasing Program |
| Web Site: | http://www.trs.virginia.gov/Debt/leasing.aspx |
| Administrator: | Virginia Department of Treasury |
| Eligible Efficiency Technologies: | Yes; specific technologies not identified |
| Name: | Va. Code § 2.2-2417 |
The Master Equipment Leasing Program (MELP) ensures that all Commonwealth agencies, authorities and institutions obtain consistent and competitive credit terms for financing equipment and energy efficiency projects. Agencies can finance energy projects at a minimum of $10,000 and can make repayments over 3, 5, 7 and 10 year terms.
Qualifying Energy Projects
Energy efficiency projects may include personal property, the installation or modification of an installation in a building, professional management, and other special services which are primarily intended to reduce energy consumption and demand or allow the use of an alternative energy source. Personal property is defined as new or reconditioned tangible personal property that includes personal property to be affixed to realty and must be used for governmental purposes.
MELP financed energy projects with relevant energy efficient technology include lighting and motor efficiency upgrades, building envelope enhancements, distribution system improvements, energy management controls.
Visit the Commonwealth's Master Equipment Leasing Program online for more information.
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A solar PV system is custom-designed for your home. Final solar system price may vary based on your location, monthly utility bill, government incentives and rebates, the condition of your home, and local installation prices. Solar PV system output and estimated savings are calculated based on several factors including product type, system production, geography, weather, shade, electricity use, full utilization of the 30% solar investment tax credit, and utility rate structures and rate increases. Savings on your total electricity costs are not guaranteed. Financing options and terms vary by location, and may not be available in all areas. Solar QC is neither the lender nor the project installer. Solar QC License# 1130591
