Pennyrile RECC - Heat Pump Loan Program (Kentucky)
Last modified on May 23, 2011.
Financial Incentive Program
|Name||Pennyrile RECC - Heat Pump Loan Program|
|Incentive Type||Utility Loan Program|
|Eligible Technologies||Heat pumps, Building Insulation, Windows, Geothermal Heat Pumps, Electronic Air Cleaners|
|Energy Category||Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs|
|Amount|| Up to 10,000 for a Heat Pump or Dual Fuel system; Up to 12,500 for an Advanced Heat Pump or Geothermal System|
8% interest rate for up to 10 years
|Program Administrator||Pennyrile Rural Electric Cooperative Corporation|
|Date added to DSIRE||2006-09-27|
|Last DSIRE Review||2009-07-17|
Pennyrile Rural Electric Cooperative serves 46,000 members in parts of nine Kentucky counties: Christian, Trigg, Logan, Todd, Muhlenberg, Lyon, Caldwell, Butler, and Simpson. Residential customers who own existing homes are eligible for financing to fund a new energy efficient heat pump system, pending a credit check. Customers can borrow up to $10,000 for an energy efficient heat pump that is at least 13.0 SEER or up to $12,500 for an advanced heat pump or geothermal system. The heat pump or geothermal system must be installed by a Pennyrile approved contractor and will undergo a post-installation inspection. In addition to purchasing a new heat pump, this loan can be used to purchase additional insulation, replace or install storm windows, add electronic air cleaners, or purchase factory extended warranties. The loan has an interest rate of 8% for up to 10 years. For more information about applying for this loan program, contact Pennyrile RECC.
|Contact Name||Customer Service - Pennyrile RECC|
|Department||Pennyrile Rural Electric Cooperative Corporation|
|Address||2000 Harrison Street|
|Address 2||P.O. Box 2900|
|Phone 2||(800) 297-4710|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.