Financing available through Energy Right Solutions for the Home Heat Pump program
A heat pump is the most efficient way to heat and cool your house. It is basically a central air-conditioning system that also works in reverse to provide central heating. During the summer, a heat pump takes the air in your home, makes it cool and dry, and then re-circulates it. In the winter, a heat pump pulls heat from air outside; (or from underground water, or the earth itself) and pumps it indoors. Believe it or not, winter air actually contains heat you can use. Heat pumps come in a variety of designs. For more information, log onto www.energyright.com and click the link to heat pump types.
Heat pump program features and requirements:
- 6% fixed interest rate --available on 14 SEER or higher split and package heat pumps & Advanced Heat Pump systems. Advanced heat pumps are defined as variable speed, triple function, water source and earth coupled or geothermal heat pumps.
- 8% fixed interest rate--available on 13 SEER split and package heat pump systems.
- Loans are available up to $10,000 for one unit or $12,500 for two units or for one Advanced Heat Pump unit.
- Get a fast and easy credit check; supply NGEMC with your warranty deed and complete a loan application. Click here for a loan application.
- With no money down you can qualify for a fixed 6 percent or 8 percent interest rate on the loan with 10 years to pay it off. No early payoff penalty applies.
- Payment installments will be added to your monthly electricity bill.
- A member of the TVA Quality Contractor Network will install the unit. You can get the QCN list from your Member Services Specialist or view it here.
- Heat pump loan applicants will be required to pay a nonrefundable $25 fee at a local NGEMC office upon submission of the loan application. Customer heat pump loan applications cannot be submitted by the heat pump contractor.
- Program packets are available at any NGEMC office.
- To comply with the USA PATRIOT Act, the applicant and co-applicant must provide NGEMC with a photocopy of a valid picture I.D., such as a driver's license, at the time the heat pump loan is closed.