Red River Valley REA - Heat Pump Loan Program

June 19, 2023


The Red River Valley Rural Electric Association (RRVREA) offers a loan program to its members for air-source and geothermal heat pumps. Loans are available for geothermal heat pumps at a 5% fixed rate, a 7% fixed rate for air-source heat pumps, and a 10% fixed rate for water heaters. Each loan has a eight-year term. Payments will appear on the electric bill. The loans are only available for equipment purchased from RRVREA or its subsidiary. Contact the RRVREA for more information on this program.



Program Overview

Implementing Sector: Utility
Category: Financial Incentive
State: Oklahoma
Incentive Type: Loan Program
Web Site:
Administrator: Red River Valley Rural Electric Cooperative
Start Date:
Eligible Renewable/Other Technologies:
  • Geothermal Heat Pumps
  • Heat pumps
Loan Term: Up to 8 years
Interest Rate: Geothermal Heat Pumps: 5%
Air-Source Heat Pumps: 7%
Water Heaters: 10%


Name: KorDale Lornes
Organization: Red River Valley REA
Address: P.O. Box 220
Marietta OK 73448
Phone: (580) 276-3364

This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.