Tupelo Water and Light - Residential Heat Pump Loan Program

Summary

Tupelo Water and Light, through a partnership with The Tennessee Valley Authority, offers low-interest financing to qualified customers who wish to install/replace an electric heat pump in their homes. The present TVA guidelines allow a maximum loan amount of $7,500 to be repaid over a ten year period at an interest rate of 9%. To gain financing, customers must complete a loan application available at TW&L's offices. Once financing has been approved, Tupelo Water and Light will provide the customer with a list of approved contractors. These contractors will give free estimates, and if any insulation is required to bring the home up to TVA standards, this cost may also be included in the loan for the heat pump. Tupelo Water and Light will even provide an inspector post-installation to ensure that a customer's unit has been installed correctly. For more information, call the Billing & Collections Office at (662) 841-6470.