Upper Cumberland EMC - Residential Heat Pump Loan Program (Tennessee)

From Open Energy Information

Summary

Last modified on May 24, 2011.

Financial Incentive Program

Place Tennessee


Name Upper Cumberland EMC - Residential Heat Pump Loan Program
Incentive Type Utility Loan Program
Applicable Sector Residential
Eligible Technologies Heat pumps
Active Incentive No
Implementing Sector Utility
Energy Category Energy Efficiency Incentive Programs
Amount 7% interest rate for loans of up 10,000, with up to 10 years to pay off with no down payment required and no penalties assessed for paying a loan off early.














Program Administrator Upper Cumberland Electric Membership Corporation
Website http://www.ucemc.com/services.htm#rebates


References DSIRE[1]


Summary

Upper Cumberland Electric Membership Corporation will loan up to a maximum of $10,000 to install a heat pump in a member's home. This is a residential program for existing homes only. Homes receiving the heat pump must have had permanent electric service for at least one year. This is not available for new homes under construction. The current interest rate for the loan is 7%. Special interest rates for Active Military families are also available. Loans may be set up for a maximum of 10 years with no down payment required and no penalties assessed for paying a loan off early. If a heat pump is being financed through the program, certain weatherization measures such as insulation may also be financed at the same time.

Incentive Contact

Contact Name Larry Fleming
Department Upper Cumberland Electric Membership Corporation
Address 138 Gordonsville Hwy.
Place Carthage, Tennessee
Zip/Postal Code 37030
Phone (931) 823-8655 Ext:338


Website http://www.ucemc.com



  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency (DSIRE)"