Volunteer Energy Cooperative - Residential Heat Pump Loan Program

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.