Existing Home Program
Are you replacing your heating and cooling system?
We pay cash incentives of $100 if you have one of our Quality Contractors install an electric heat pump with a 13 SEER rating or higher. If you do not choose one of our Quality Contractors to install your heat pump, we will still pay you an incentive of $50 if it has a 13 SEER rating. We also pay a cash incentive of $200 when you have a Quality Contractor install an advanced heat pump with 2 stage, dual compressors or a geothermal system.
Replacing or installing an electric water heater?
We pay an incentive of $50 when you install an electric water heater in your home. There is a form in each Pennyrile office that needs to be completed and also you give us a copy of the receipt where your water heater was purchased. It is that easy!!
Need a LOAN to install a Heat Pump, Dual Fuel, Advanced System, or Geothermal?
We offer a low 8% simple interest loan up to $10,000 for a Heat Pump or Dual Fuel system. Also, we can loan $12,500 for an Advanced System or Geothermal. Payments are added to your monthly electric bill and are repayable over 120 months. There is no penalty for early payoff!! In addition to purchasing your new heating/cooling system, your loan can be used to add insulation, replace/install storm windows, add electronic air cleaners, or purchase factory extended warranties.
- You own the property.
- We run a credit check.
- We provide you with brochures on different types of heat pumps and provide you with a list of the Quality Contractors.
- You choose a contractor from the Quality Contractors list. (We recommend you contact at least three contractors for estimates)
- We inspect the installation after completion and you sign loan paperwork.
- Incentives are subject to change.
To sign up or learn more about any of these programs, contact your district office or email us.