Question

A friend has geothermal. I love it. Are their government incentives for geothermal heating/cooling systems?

Asked by Chuck
Ridgefield, CT

We live in CT.

Answer

Elizabeth DiSalvo

Answered by Elizabeth DiSalvo

Norwalk, CT

Trillium Architects

January 6, 2012

Hi Chuck,

(How funny - I also live in Ridgefield. Are you Callum's Dad? :) 

There are many incentives for Geothermal (as well as for other forms of Renewables ).

  • The Federal government offers a Renewable Energy Tax Credit equal to 30% of the cost of the system (with no maximum for systems installed after 2008.)
  • The State of CT currently offers $1,050 per ton of cooling capacity for new homes and $1,200 per ton of air conditioning capacity on retrofits of existing homes.
  • The state also offers 100% sales tax exemption as well as a 100% property tax exemption for renewable energy property (so you do not have to pay any sales of property taxes on the equipment.)

In the past there have been loans and financing available both through State and Federal sources, but they come and ago based on available funding. Right now they are mostly suspended.

You can read more about these incentives and find incentives for other States at this very useful website: http://www.dsireusa.org

Best of luck!
Elizabeth

Tagged In: geothermal

Do you have a question about greening your home? GreenHomeGuide invites you to Ask A Pro. Let our network of experienced green building professionals – architects, designers, contractors, electricians, energy experts, landscapers, tile & stone specialists, and more – help you find the right solution.