Heat Pump Financing
The Tennessee Valley Authority offers heat pump financing for Powell Valley Electric Cooperative customers who qualify through the TVA’s EnergyRight Residential Services program.
Requirements for Approval:
How It Works
1. Apply
Fill out an application for heat pump financing. Applications are available at any PVEC office or can be emailed to heatpump@pve.coop.
2. Get Estimates
Once approved, you’ll receive a participation agreement and a list of qualified contractors in the area. We recommend obtaining estimates from multiple contractors to choose the one that best fits your needs and budget.
3. Install Your New Unit
A qualified local contractor will install your new heat pump to enhance your home’s comfort. After installation, PVEC will contact you to finalize the financing paperwork. This can be signed in the office or with a notary outside the office.
Take advantage of this program to improve your home’s energy efficiency and comfort. Contact your local PVEC office for more information or to start your application today!
To Qualify, Applicants Must:
- Own the property
- Be a PVEC member in good standing
- Have a minimum credit score of 625
Financing Facts
- Same-day approval
- 8% APR interest rate
- Loan term: up to 120 months
- Secured by a UCC-1 filing fixture
- Applicant must have an established payment history with PVEC
- Applicant must present a valid driver’s license or photo ID.
- Payments are added to the monthly electric bill
- No penalty for early payoff
- Loan amounts: Minimum $2,500 / Maximum $20,000
Get started today and make your home more energy efficient with PVEC's heat pump financing program! For more information call 423.626.5204.