Northern Virginia Electric Cooperative - Residential Energy Efficiency Finance Program

September 02, 2008


Northern Virginia Electric Cooperative, through an arrangement with SunTrust Bank, offers loans to its residential customers to have an eligible HVAC dealer replace or upgrade their electric air or ground source heat pump or electric water heater. Customers can call SunTrust at 1-888-SUNTRUST (1-888-786-8787) to find out the current NOVEC interest rate, which is typically two to five percentage points below the average interest rate in the marketplace. If the loan amount is $5,000 or greater, customers may receive an additional 1/4 percent off the interest rate by having their loan payments automatically deducted from a SunTrust deposit account.

Program Overview

Implementing Sector: Utility
Category: Financial Incentive
State: Virginia
Incentive Type: Loan Program
Web Site:
Administrator: Northern Virginia Electric Cooperative
Start Date:
Eligible Renewable/Other Technologies:
  • Water Heaters
  • Heat pumps


Name: Account Services
Organization: Northern Virginia Electric Cooperative
Address: PO Box 795
Alexandria VA 22334-0795
Phone: (888) 335-0500

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.