Gibson Electric Membership Corporation - Residential Heat Pump Loan Program (Tennessee)
Last modified on May 23, 2011.
Financial Incentive Program
|Name||Gibson Electric Membership Corporation - Residential Heat Pump Loan Program|
|Incentive Type||Utility Loan Program|
|Applicable Sector||Residential, Multi-Family Residential|
|Eligible Technologies||Heat pumps, Building Insulation, Windows|
|Energy Category||Energy Efficiency Incentive Programs|
|Amount||8% APR for up to 10 years for loans of up to 10,000 for a single unit and 12,500 for multiple units.|
|Program Administrator||Gibson Electric Membership Corporation|
|Date added to DSIRE||2006-09-20|
|Last DSIRE Review||2009-07-17|
Gibson Electric Membership Corporation provides low-interest loans to help its residential customers install new, energy efficient heat pumps in their homes. Loans of up to $10,000 have an 8% interest rate with up to 10 years to pay off. Heat pumps must be installed by contractor listed on Quality Contractor List. Upon credit approval, the loans can also be used to pay the installation costs, as well as storm windows and added insulation. Additional funds of up to $2,500 can be added to the $10,000 for multiple units or an Advanced Heat Pump. More information may be found on the website listed above.
|Contact Name||Customer Service|
|Department||Gibson Electric Membership Corporation|
|Address||1207 South College St|
|Address 2||PO Box 47|
|Phone||(731) 855-4740 Ext:1611|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.