Combined Heat and Power Partnership
Tax-Exempt Equipment Leasing Program (TELP)
| Date Last Updated | 11/16/2012 |
| Incentive Type | Tax |
| State/Federal | NY |
| Incentive Administrator/Contact Office | Dormitory Authority State of New York |
| Incentive Initiation Date | 9/1/2000 |
| Incentive Size and Funding Source | TELP is a financing program that changes the traditional two-party lease structure to include a financing organization as a third party. Client lease payments are reassigned to this third party, which does not pay any taxes on interest. Due to this elimination of taxes on the interest portion of a lease payment, the average client saves about 10% on each $1,000,000 leased. Dormitory Authority TELP lease fundings average $4.5 million, and range from $386,000 up to $44 million. Savings vary according to the interest rate. |
| Eligible Recipient | Any NY State Dormitory Authority client that leases technical equipment, including energy management equipment for the production of CHP, is eligible. |
| Eligible Fuel | Does Not Specify |
| Eligible Project Size (MW) | Does Not Specify |
| Minimum Efficiency Required (%) | Does Not Specify |
| Application Form(s) | TELP Application Forms and Sample Documentation |
| Resource Website(s) |
http://www.dasny.org/telp/index.php  |