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.
| Implementing Sector: | Utility |
| Category: | Financial Incentive |
| State: | Alabama |
| Incentive Type: | Loan Program |
| Web Site: | http://www.smec.coop/ |
| Administrator: | Sand Mountain Electric Cooperative |
| Start Date: | |
| Eligible Renewable/Other Technologies: |
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| Name: | Dianne Hale |
| Organization: | Sand Mountain Electric Cooperative |
| Address: |
402 Main Street West Rainsville AL 35986 |
| Phone: | (877) 843-2512 |
| Email: | mmcgee@smec.coop |
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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