Installing a WaterFurnace geothermal system can dramatically reduce the cost of heating, cooling, and providing domestic hot water for your home. If you’re anything like your Newton neighbors, though, it’s getting past the initial installation cost that’s difficult. Don’t worry. There’s help. It comes in the form of various federal, state, and local financial incentives.
The most obvious – and wonderfully welcome! – incentive right now is the 26% federal geothermal tax credit for 2020. In 2021, the tax credit will be 22%. Read all about it in our special flier, Understanding the Federal Tax Incentives for Geothermal Heat Pumps.
Questions about what incentives might be available for you at the state and local level? Check out DSIRE, a free, open, and comprehensive resource providing state-by-state information on thousands of policies and incentives promoting renewable energy and energy efficiency. Established in 1995 and funded by the U.S. Department of Energy, DSIRE is an ongoing project of the N.C. Solar Center and the Interstate Renewable Energy Council.