TVA EnergyRight Residential Services Loan

How it works

Decatur Utilities says TVA EnergyRight Residential Services can help homeowners make home-energy upgrades and apply for financing for qualifying upgrades. The page provides a step-by-step online process to apply.

How to apply

Homeowners are instructed to:

1. Visit the EnergyRight site.
2. Enter their ZIP code and select Decatur Utilities as the power company.
3. Create an account.
4. Click the Apply for Financing button.
5. Fill out the application and upload a driver’s license and most recent utility bill.
6. Wait for approval or denial by email within 48 hours.
7. If approved, choose a TVA-approved contractor.
8. After installation, the contractor submits information to EnergyRight.
9. Loan documents are created for electronic signature.
10. The contractor is paid after signing, and monthly payments are billed on the DU electric bill.

Amounts and terms

The page includes a linked loan schedule PDF but the public page text shown here does not itself spell out the full loan terms in readable text. It does mention a minimum loan amount of $2,500, a maximum loan of $20,000, a maximum term of 10 years, an annual interest rate of 8%, and a minimum FICO score of 625.

Timing and deadlines

The page notes the steps are “As of 8/1/24” and subject to change.