The following contractors have a copy of their license, insurance and bond on file with PEC and recently have completed a
contact form indicating their desire to participate in PEC's Heat Pump Loan Program. 

Heat Pump Loan Program

For Quick Application & Answered Questions, call Customer Service at (580) 332-3031 or toll free within our service area at 1-877-456-3031.

• Equipment Requirements
  • Air-to-air, dual fuel or ground source electric heat pumps will qualify.
  • Financing is available for replacement units only. (Not available for new homes.)
  • SEER rating must be 13 or greater.
  • Equipment must have a manufacturer's warranty of at least a five years, or the life of the loan if loan term exceeds five years.
  • Equipment must be installed by a Contractor who holds a Mechanical Contractor's License with a minimum of $50,000 general liability insurance and $5,000 workmanship bond. (Must have current copy of this information on file with PEC prior to loan closing.)
     
• Customer Requirements
  • Must have been a PEC member for 24 months or longer with no history of monthly payments received after the 20th of any month or any returned checks during that time.
  • The member must complete a PEC Credit Application and should also have a satisfactory credit report through the local Credit Bureau.
  • The member must hold title to the structure where heat pump(s) is installed/financed and allow PEC to file a Mortgage on property where heat pump will be installed. (Cannot be renting the home.)
  • The member must sign a new Agreement for Electric Service for the term of the loan or until the loan is paid off.
  • Mobile homes must be mounted on a permanent foundation on five (5) acres or more where the member holds the title.
  • The member must agree to join PEC's Load Management Program (if implemented).
  • The member must provide a copy of the Warranty Deed or Abstract (to be returned to the owner).
  • The home may be subject to inspection/appraisal to satisfy mortgage requirements. In addition, PEC may require title insurance.
  • An acceptable co-signer who meets these guidelines can be used with PEC's approval.

• Loan Provisions
  • Before loan closing, the equipment must be installed with a copy of the contractor's bill provided to PEC, and is subject to PEC's inspection.
  • A "pre-approved interest rate and loan" can be provided, which is good for 30 days.
  • Checks will be issued directly to the contractor. If a copy is not on file, customer must provide proof of contractor's license and workmanship bond.
  • Loans will not be made to re-finance electric heat pumps. In addition, these loans are not available for installations where PEC's rebate program has been chosen by the member.
  • Loan must be paid off if the home is subsequently sold.
  • The term of the loan can be up to ten years.
  • All loans will require member to provide additional security by collateralizing with their PEC capital credits.

  For More information on Heat Pump Loans
  Allyson McElroy
  Vice President, Customer Service
  (580) 272-1528

• Rebate Amount
• Air-to-air, dual fuel or ground water source heat pumps - $100.00/ton

• Qualifications
• SEER of 13 or greater
• 5 year manufacturer's warranty
• Agree to participate in PEC's Load Management Program
• Rebates must be paid within 6 months of installation

Standard Application Form  (Click Here) to print and complete
The above applications require Adobe Acrobat Reader.
If you do not have this program, click the Acrobat Reader Logo to download a free copy.    

Submit completed applications to:

Jennifer Boeck, VP - Communications
People's Electric Cooperative
P.O. Box 429
Ada, OK  74821-0429

• Water Heaters

• Rebate Amount
• First time installation or replacement of gas units with electric - $100.00
• Replacement of older electric units with new electric units -
  $ 50.00

• Qualifications
• At least a 30 gallon tank
• 5 year manufacturer's warranty
• Agree to participate in PEC's Load Management Program
• Rebates must be paid within 6 months of installation

Standard Application Form  (Click Here) to print and complete
The above applications require Adobe Acrobat Reader.
If you do not have this program, click the Acrobat Reader Logo to download a free copy.    

Submit completed applications to:

Jennifer Boeck, VP - Communications
People's Electric Cooperative
P.O. Box 429
Ada, OK  74821-0429

For More information on Rebates
Jennifer Boeck
Vice President, Communication Services
(580) 272-1529