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.
| 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 |
| Start Date: | |
| Eligible Renewable/Other Technologies: |
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| Terms: | Equipment purchases less than $10,000 are not eligible for financing |
| Name: | Va. Code § 2.2-2417 |
| Name: | Debora Greene |
| Organization: | Virginia Department of the Treasury |
| Address: |
101 North 14th Street Richmond VA 23219 |
| Phone: | (804) 225-2142 |
| Email: | debora.greene@trs.virginia.gov |
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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