31:01:03:02.  Criteria for energy conservation loans. Energy conservation projects for which the loans are desired must meet the following criteria:

          (1)  The building in which the measures are being installed must be in South Dakota;

          (2)  The project must be consistent with the state energy conservation program plan required by 40 C.F.R. § 420 as published in 48 Fed. Reg. 39,356-39,364 (August 30, 1983);

          (3)  The project must demonstrate the ability to conserve energy through efficient energy use or the utilization of renewable energy resources which results in energy savings based upon a net reduction in the use of nonrenewable resources;

          (4)  The project must utilize existing, proven reliable technologies;

          (5)  The project must show energy savings;

          (6)  The project must demonstrate a simple payback period of 10 years or less, which may be subject to waiver in unusual circumstances;

          (7)  The project must meet state air and water quality standards; and

          (8)  The project must be recommended in a current technical analysis report as required by chapter 31:01:02.

          Source: 14 SDR 183, effective July 13, 1988; transferred from § 20:13:03:02, 15 SDR 209, effective July 9, 1989; 19 SDR 148, effective April 4, 1993; 20 SDR 222, effective July 5, 1994.

          General Authority: SDCL 1-33B-15.

          Law Implemented: SDCL 1-33B-15.

          Cross-References:

          Surface water quality standards, ch 74:51:01.

          Drinking water standards, ch 74:04:05.

          Air pollution control program, art 74:36.