EnergyEfficient Heat Pumps for the Home
You have been led to believe by the gas company that a natural gas furnace is the most economical means of heating your home. What they didn’t tell you is that in their cost comparison they use an electric rate equal to the national average which is much higher than the rates in the Tennessee Valley. The fact is that you are fortunate to live in an area that has one of the lowest residential electric rates in the country. Therefore, the most efficient way to heat a home in Tupelo is not with natural gas or with propane, but rather with a high efficiency electric heat pump. Additionally, Tupelo Water & Light Department is working with TVA to identify heat pump dealers who are proven to be the best qualified to install a heat pump properly in your home so that you receive the full benefit of the energy efficient unit. We will even send an inspector to your home at no charge to you after the unit is installed to make sure that your unit has been installed correctly.
The Tupelo Water & Light Department, through a partnership with TVA, offers to qualified customers low-interest financing on the installation/replacement of an electric heat pump through their utility bill. This program requires customers to come to our Billing & Collections Office at 320 Court Street to fill out a credit application. If approved, the customer will then receive a package from TVA, which contains a Contractor Listing. These contractors will give free estimates. If any insulation is required to bring the home up to TVA standards, this cost may be included in the loan for the Heat Pump.
The present TVA guidelines allow a maximum loan amount of $7,500 to be repaid over a ten (10) year period at an interest rate of 9%.
In addition to the low-interest loan, Tupelo Water & Light Department also offers a rebate to customers who install or replace an electric heat pump in an existing home. This rebate is $50.00 per ton, with a maximum rebate of $250.00.
If you are interested in a new electric heat pump or need to replace your existing unit, please call our Billing & Collections Office @ 662-841-6470 for more information.