Payments. TVA

Payments. TVA will pay MVP by Electronic Funds Transfer (EFT) or a mutually agreed upon alternative arrangement. Payments will be based on heat pump installations successfully entered in the energy right Program data base, which have not been previously paid. • Amount of MVP—The distributor will be paid for heat pumps meeting all requirements in the energy right Program agreement according to the current payment plan (Schedule HP). MVP is based on efficiency. • Adjustment of Payment Rates—When the payment rate is adjusted, the distributor will be informed of the adjustment and its effective date. After the effective date of any adjustment in the payment rate, the distributor will have three months to inspect and qualify any installations committed to prior to the effective date of the adjustment as evidenced by documentation confirming the date of that commitment. Payment Procedures. Distributors apply for payment by submitting a Work Completion Form to TVA’s database. Documentation. The distributor shall maintain files containing information for each participant in the energy right Heat Pump Plan. At a minimum, distributor records shall include the following: • A completed Work Completion/ Form indicating the size, type, etc., of each heat pump. • A Quality Contractor Network (QCN) member invoice providing the brand, type unit, rated capacity, and serial and model numbers of the equipment installed. Financing If a distributor has selected financing for the Heat Pump Plan, see Article X for requirements and procedures. Financing is limited to heat pump equipment and accessories and associated weatherization as listed in the Financing Section of the Reference Materials for existing dwellings only. At this time, there is no financing for the business application.