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Alabama

Alabama

Incentives/Policies for Energy Efficiency

Printable Version
Sand Mountain Electric Cooperative - Residential Heat Pump Loan Program   

Last DSIRE Review: 08/01/2012
Program Overview:
State: Alabama
Incentive Type: Utility Loan Program
Eligible Efficiency Technologies: Heat pumps
Applicable Sectors: Residential
Amount:7% interest rate
5 or 10 year pay schedule
maximum of $12,000
Web Site: http://www.smec.coop/
Summary:

The Sand Mountain Electric Cooperative offers a heat pump loan program to eligible residential members. To qualify, members must have had power with Sand Mountain Electric Cooperative for at least one year, have the home electric bill and deeds in the same name, and pass a credit check. Heat pumps must be installed by a Certified Heat Pump Contractor. Once the contractor has installed the heat pump, a representative from the utility will perform a post-installation inspection. Upon completion of the inspection, Sand Mountain Electric Cooperative will pay the contractor the full bill, up to $12,000, which the customer will pay back monthly on their electric bill. Loans have a 7.0% interest rate and can be repaid over five or ten years, with no prepayment penalties.


 
Contact:
  Dianne Hale
Sand Mountain Electric Cooperative
402 Main Street West
P.O. Box 277
Rainsville, AL 35986
Phone: (877) 843-2512
Phone 2: (256) 635-6344
E-Mail: mmcgee@smec.coop
Web Site: http://www.smec.coop/
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

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