Commonwealth's Master Equipment Leasing Program

November 15, 2019

Summary

The Master Equipment Leasing Pr ogram (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.

Program Overview

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:	Yes; specific technologies not identified
Terms:	Equipment purchases less than $10,000 are not eligible for financing

Authorities

Name:

Va. Code Â§ 2.2-2417

Contact

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.