Solar & Battery Regulation & Incentive Programs

Red River Valley REA - Heat Pump Loan Program

Program Overview


Category:
Financial Incentive
Program Type:
Loan Program
Implementing Sector:
Utility
State:
Oklahoma
Eligible Storage Technologies:
Geothermal Heat Pumps, Heat pumps
Website:
http://www.rrvrea.com/home/member-services/products-and-services
Loan Term:
Up to 8 years
Interest Rate:
Geothermal Heat Pumps: 5%
Air-Source Heat Pumps: 7%
Administrator:
Red River Valley Rural Electric Cooperative
Applicable Sectors:
Commercial, Residential
Utility:
Red River Valley Rrl Elec Assn
Last Updated:
06/05/2020

Summary

The Red River Valley Rural Electric Association (RRVREA) offers a loan program to its members for air-source and geothermal heat pumps. Loans are available for geothermal heat pumps at a 5% fixed rate and for air-source heat pumps at a 7% fixed rate. Both loans have a eight-year term. Payments will appear on the electric bill. The loans are only available for equipment purchased from RRVREA or its subsidiary. Contact the RRVREA for more information on this program.