You are given a list of heat pump contractors who are actively involved in the loan program and are aware of the installation requirements. They will give you a free estimate on the cost of the installation. Approval from TUB on your choice of heat pump contractors is not required. Following the installation, your unit will be inspected, and following a passing grade, TUB pays your heat pump contractor. The cost of the unit is then attached to your utility bill.
Early payoff is available with no penalty.
Simply put, a heat pump is the most cost-effective way to heat and cool your home in the Tennessee Valley. It's basically a central air-conditioning system that also works in reverse to provide central heating. During the summer a heat pump takes the air in your home, makes it cool and dry, then recirculates it. In the winter a heat pump pulls heat from air outside and pumps it indoors. Believe it or not, winter air actually contains heat you can use.