Volunteer Energy Cooperative - Residential Heat Pump Loan Program (Tennessee)

From Open Energy Information

Summary

Last modified on May 24, 2011.

Financial Incentive Program

Place Tennessee


Name Volunteer Energy Cooperative - Residential Heat Pump Loan Program
Incentive Type Utility Loan Program
Applicable Sector Residential
Eligible Technologies Heat pumps, Geothermal Heat Pumps
Active Incentive No
Implementing Sector Utility
Energy Category Energy Efficiency Incentive Programs
Amount 8% interest for a maximum of 10 years. Maximum loan amount ranges from 10,000 to 12,500 depending on type of heat pump being installed.














Program Administrator Volunteer Energy Cooperative
Website http://www.vec.org/article.aspx?categID=6&articleID=485


References DSIRE[1]


Summary

Volunteer Energy Cooperative, in collaboration with The Tennessee Valley Authority, offers financing to its residential members through the Energy Right heat pump loan program. For a home to qualify for this program, the home must be more than 12 months old, and the heat pump must be a replacement heating/cooling system. Additionally, the heat pump must be installed by a TVA-qualified contractor. The maximum loan amount for a single electric heat pump is $10,000. Up to $12,500 will be loaned for situations where multiple heat pumps are needed, for advanced systems such as geothermal units, and for those with variable or multi-speed compressors. Weatherization measures, such as attic and floor insulation and storm windows, may be included in the loan up to the maximum amount if authorized by the TVA qualified dealer.

Incentive Contact

Contact Name Connie Landrum
Department Volunteer Energy Cooperative
Address 18359 Hwy. 58 N.
Address 2 PO Box 277
Place Decatur, Tennessee
Zip/Postal Code 37322
Phone (423) 334-7051


Email vec@vec.org
Website http://www.vec.org/
Contact Name Tracey Allen
Department Volunteer Energy Cooperative
Address 18359 Hwy. 58 N.
Address 2 PO Box 277
Place Decatur, Tennessee
Zip/Postal Code 37322
Phone (423) 334-7053


Email vec@vec.org
Website http://www.vec.org/


  • 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)"