You can save money with geothermal heating & cooling in several ways...

• Operating costs are considerably lower, which saves money in the long run.
• Less space is required for geothermal, which means a lower cost per square foot.
• The cost of purchase and installation is substantially offset by programs that support sustainable energy technology.
• Long-term tax incentives to encourage the use of geothermal heat pumps in homes and businesses are available on both a federal and state level in most locations.
• Grants and loan programs are available.
• Utility companies offer rebate programs that support geothermal.

Financial Incentive Programs

Massachusetts

Corporate Deduction

• Alternative Energy and Energy Conservation Patent Exemption (Corporate)

Corporate Depreciation

• Modified Accelerated Cost-Recovery System (MACRS) + Bonus Depreciation (2008-2009)  Federal

Corporate Tax Credit

• Business Energy Investment Tax Credit (ITC)  Federal

Federal Grant Program

• Tribal Energy Program Grant  Federal
• U.S. Department of Treasury - Renewable Energy Grants  Federal
• USDA - Rural Energy for America Program (REAP) Grants  Federal

Federal Loan Program

• USDA - Rural Energy for America Program (REAP) Loan Guarantees  Federal

Industry Recruitment/Support

• Qualifying Advanced Energy Project Investment Tax Credit  Federal

Personal Deduction

• Alternative Energy and Energy Conservation Patent Exemption (Personal)

Personal Tax Credit

• Residential Renewable Energy Tax Credit  Federal

Sales Tax Exemption

• Renewable Energy Equipment Sales Tax Exemption

Utility Rebate Program

• NSTAR - Construction Solutions Program

Visit the Center for Ecological Technology Web site to get information about a Green Home Audit.

Western Mass Electric Energy Efficiency programs>>

Connecticut

Connecticut Clean Energy Fund

• Geothermal Heat Pump Incentive Program

Corporate Depreciation

• Modified Accelerated Cost-Recovery System (MACRS) + Bonus Depreciation (2008-2009)  Federal

Corporate Tax Credit

• Business Energy Investment Tax Credit (ITC)  Federal

Federal Grant Program

• Tribal Energy Program Grant  Federal
• U.S. Department of Treasury - Renewable Energy Grants  Federal
• USDA - Rural Energy for America Program (REAP) Grants  Federal

Federal Loan Program

• USDA - Rural Energy for America Program (REAP) Loan Guarantees  Federal

Industry Recruitment/Support

• New Energy Technology Program
• Qualifying Advanced Energy Project Investment Tax Credit  Federal

Personal Tax Credit

• Residential Renewable Energy Tax Credit  Federal

Property Tax Exemption

• Property Tax Exemption for Renewable Energy Systems

Sales Tax Exemption

• Sales and Use Tax Exemption for Energy-Efficient Products
• Sales and Use Tax Exemption for Solar and Geothermal Systems

State Loan Program

• CHIF - Energy Conservation Loan

Utility Rebate Program

• Connecticut Light & Power - Home Services and Rebates
• The United Illuminating Company - Residential Energy Efficiency Rebate Program

CL&P Geothermal Heat Pump Rebate program>>

Yankee Gas Energy Saving Programs>>

New Hampshire

Corporate Depreciation

• Modified Accelerated Cost-Recovery System (MACRS) + Bonus Depreciation (2008-2009)  Federal

Corporate Tax Credit

• Business Energy Investment Tax Credit (ITC)  Federal

Federal Grant Program

• Tribal Energy Program Grant  Federal
• U.S. Department of Treasury - Renewable Energy Grants  Federal
• USDA - Rural Energy for America Program (REAP) Grants  Federal

Federal Loan Program

• USDA - Rural Energy for America Program (REAP) Loan Guarantees  Federal

Industry Recruitment/Support

• Qualifying Advanced Energy Project Investment Tax Credit  Federal

Personal Tax Credit

• Residential Renewable Energy Tax Credit  Federal

Utility Rebate Program

• New Hampshire Electric Co-Op - Residential Energy Efficiency Rebate Programs
• PSNH - Residential Energy Efficiency Rebate Program

PSNH Energy Star® Homes Program>>

Vermont

Corporate Depreciation

• Modified Accelerated Cost-Recovery System (MACRS) + Bonus Depreciation (2008-2009)  Federal

Corporate Tax Credit

• Business Energy Investment Tax Credit (ITC)  Federal

Federal Grant Program

• Tribal Energy Program Grant  Federal
• U.S. Department of Treasury - Renewable Energy Grants  Federal
• USDA - Rural Energy for America Program (REAP) Grants  Federal

Federal Loan Program

• USDA - Rural Energy for America Program (REAP) Loan Guarantees  Federal

Industry Recruitment/Support

• Qualifying Advanced Energy Project Investment Tax Credit  Federal

Personal Tax Credit

• Residential Renewable Energy Tax Credit  Federal

State Grant Program

• Clean Energy Development Fund (CEDF) Grant Program

Vermont Energy Investment Corp>>

Efficiency Vermont>>

The Vermont Department of Public Service>>

More information about the financial benefits of geothermal energy>>

A large number of these incentives are dependant upon having an energy audit done on your home or business. OVT Supply can help you through this process. Please call us toll-free at 866-548-9914 or click here to send us an email.

A woman is silhouetted at dawn amongst the geothermal Tatio Geysers in the Atacama Desert in Chile.

INCENTIVES
BY STATE:

DSIRE is a comprehensive source of information on state, local, utility, and federal incentives and policies that promote renewable energy and energy efficiency. Established in 1995, DSIRE is an ongoing project of the NC Solar Center and the Interstate Renewable Energy Council funded by the U.S. Department of Energy.

For more information about programs that support geothermal energy, click on the name of your state:

Massachusetts

Connecticut

New Hampshire

Vermont