Solar & Battery Regulation & Incentive Programs

Blue Ridge Electric Cooperative - Heat Pump Loan Program

Program Overview


Category:
Financial Incentive
Program Type:
Loan Program
Implementing Sector:
Utility
State:
South Carolina
Eligible Storage Technologies:
Geothermal Heat Pumps, Heat pumps
Website:
https://www.blueridge.coop/content/heat-pump-loan-program
Maximum Loan:
Homes:
One heat pump: up to $10,000
Two or more heat pumps: up to $15,000
One geothermal heat pump: up to $10,000

Mobile home
One heat pump up to $8,000
Loan Term:
Repayment:
For loans under $1,500, up to 42 months
For loans over $1,500, 60 months
Interest Rate:
7.5%
Administrator:
Blue Ridge Electric Cooperative
Applicable Sectors:
Residential
Utility:
Blue Ridge Electric Coop Inc
Last Updated:
04/25/2019

Summary

Blue Ridge Electric Cooperative (BREC) offers low interest loans to help members finance the purchase of energy efficient heat pumps. Loans under $1,500 can be financed for up to 42 months, and loans above $1,500 can be financed for up to 60 months for houses. Loans must be at least $1,000. Qualifying heat pump must have a SEER Rating of 15 or higher for houses and 14 for mobile homes. In order to qualify for the rebate, the customer must own their home or property.

Contact BREC for more information on this program.