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Heat Pump Financing

The energy right Heat Pump Financing Program is designed to encourage the installation of electric heat pumps that meet program standards and requirements for residential dwellings.


Southwest Tennessee Electric maintains a list of heating, ventilation, and air conditioning (HVAC) contractors that have met the requirements for the Quality Contractor Network (QCN).  These QCN members have met the requirements of program training, evidence of a valid business license, minimum required insurance and certification by a manufacturer to sell, install, and service the manufacturer’s equipment.


Heat Pump Program Financing

**Attention members: Effective April 1, 2018 - Interest rates on new loans increased to 7%.

Financing a heat pump through Southwest Tennessee Electric and the TVA energy right program is relatively simple.

  • Members must first qualify for financing.  This is done through a credit check process.
  • A Southwest Tennessee Electric representative will take your information over the phone by calling 1-800-772-0472. 
  • A 7.0% interest loan with a 10 year payback. 
  • Inspections are required on all financed installations.
  • Be prepared to give the following information: account number, address, length of time at address, prior address if at current address fewer than 3 years, social security number, date of birth, and drivers license number. 
  • Be certain to have the necessary information for all parties you wish to be named on the application.
  • Once you have been approved for participation in the program, you will receive a packet in the mail.  This packet will contain some paperwork you will need to complete and return, as well as a QCN list.
  • It is the responsibility of the member to contact dealers on the Quality Contractor Network Member List or, QCN list and get quotes. 
  • Southwest Tennessee Electric does not require that you get a certain number of quotes; however, we do suggest at least two. 
  • Finally, select a dealer and schedule the installation.
  • Once the dealer has completed the job, they will notify Southwest Tennessee Electric. 
  • A Southwest inspector will then inspect the job before the dealer is paid. 
  • Once the dealer is paid, you will be billed monthly by Southwest Tennessee Electric for repayment of the loan.

There is no warranty, either express or implied, by TVA or Southwest Tennessee Electric, as to the cost, adequacy, or effectiveness of any work performed by your contractor in connection with the program.

Members wanting more information about the heat pump financing program may contact Martha Traylor at 1-731-585-0542.

All work to be financed by must be completed by a member of the Quality Contractor Network.


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