TVA customers, Virginia · Loan
Heat Pump Financing (Powell Valley Electric Cooperative)
Run by Powell Valley Electric Cooperative (PVEC), through TVA EnergyRight
On-bill financing of $2,500 to $20,000 at 8% APR for up to 120 months for a new heat pump, for PVEC members who own their home and have a credit score of 625 or more.
Amounts
How much you get
Loans from $2,500 to $20,000 at 8% APR, terms up to 120 months, repaid on the monthly electric bill, no prepayment penalty. Secured by a UCC-1 fixture filing.
Eligibility
Do I qualify?
You need to meet all 4 of these.
PVEC member in good standing with an established payment history.
You must own the property.
Minimum credit score of 625; valid driver's license or photo ID.
Installed by a qualified contractor from the list you get after approval (TVA Quality Contractor Network).
What to doGet estimates from contractors on the list provided after approval.
Equipment
What equipment counts
Applying
How to apply
Get approved before you buy anything.
- Apply online ("Check your eligibility").
Same-day approval.
- Get estimates from qualified contractors on the list you receive.
- Contractor installs the heat pump.
- Sign the financing paperwork with PVEC (in the office or with a notary).
- Payments are added to your monthly electric bill.
Questions about applying423-626-5204
Stacking
Use it with
Your address
Next steps
Check that it covers your address. This program has to approve you before you buy anything, so start with the program, not a contractor quote.
Is it available at your address?
Before anything else
Get estimates from contractors on the list provided after approval.
Your quote request is in If a contractor we work with serves your ZIP, they can contact you. We take one request per person; contact us to change it.
Get an email if this program changes
We'll write if its amount, status or deadline changes. Nothing else.
FAQ
Questions
How much does Heat Pump Financing (Powell Valley Electric Cooperative) pay?
Up to $20,000 loan.
Do I need to be a TVA customer?
Yes. It’s only for homes in TVA customers, Virginia. See Do I qualify for the details.
Do renters qualify?
You must own the property.
Do I have to use a contractor?
Yes. Installed by a qualified contractor from the list you get after approval (TVA Quality Contractor Network).
Do I need approval before I buy?
Yes. Apply before you buy or install anything; purchases made first don’t qualify.
Is it still available?
Yes. It was open when we last checked, on October 20, 2026.
Plain words
Words used on this page
References
Sources
This page is built from these official pages, run by the program itself.
When one of these pages changes, we re-check this page against it.
Nearby
More in Virginia
TVA and BVU Authority (Bristol Virginia Utilities customers, Virginia
TVA EnergyRight Home Upgrade Rebates (Powell Valley Electric and BVU)
Up to $1,500 back
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Checked Oct 20, 2026
All of Virginia
Sales Tax Paid on Certain Energy Efficient Equipment or Appliances (income tax deduction)
Amount varies
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Checked Oct 20, 2026
All of Virginia
Weatherization Assistance Program (WAP)
Work done at no cost
Free energy audit and upgrades (air sealing, insulation, duct repair, heating and cooling repair or replacement, safety checks) for income-eligible Virginia homeowners and renters, through local nonprofit providers.
Checked Oct 20, 2026