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Combined Heat and Power Partnership

Tax-Exempt Equipment Leasing Program (TELP)

Date Last Updated11/16/2012
Incentive TypeTax
State/FederalNY
Incentive Administrator/Contact OfficeDormitory Authority State of New York
Incentive Initiation Date9/1/2000
Incentive Size and Funding SourceTELP 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 RecipientAny NY State Dormitory Authority client that leases technical equipment, including energy management equipment for the production of CHP, is eligible.
Eligible FuelDoes 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 exit EPA

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