Northwoods Geothermal

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TAX REBATES AND INCENTIVES

Emergency Economic Stabilization Act assigned October 2008 gives a new $2000 tax rebate for each household through 2016 for installation of geothermal heat pumps. In addition, all commercial geothermal heat pumps are allowed 10% investment tax credit.

Helpful Documents (click to download - requires adobe pdf reader)
Geothermal Fuel Comparison Chart 2008
Heatsmart Informational Packet
Energystar Homes Program FAQ's
Energystar Homes Enrollment Form
Energystar Process

PSNH Energy Star Home Program ~ Geothermal Options
For homes with a HERS rating of 65 or lower Public Service of New Hampshire has incentives structured to help cover some of the incremental costs associated with building to higher performance levels.

For 2008 the ENERGY STAR Homes Program ~Geothermal Tracke offers incentives based on the conditioned living area of the home at the following schedule:

Less than or equal to 2,400 square feet, the incentive is calculated at $2.25 per square foot
Greater than 2,400 square feet, the incentive is calculated at $2.00 per square foot
The incentive cpas at $7,500

PSNH Heat Smart Program
Public Service of New Hampshire's Heat Smart Program provides a discounted kilowatt-hour rate for separately metered electric space heating and electric water heating geothermal qualifies as electric heat because the heat pump is run on electricity. The discounted rate is now at .105 per kilowatt-hour. The savings is roughly 20%.

In exchange for the lower rate, customers agree to allow PSNH to briefly interrupt service to their heating circuits during periods of high demand for electricity. Back up heat is required and can only be one of the following: wood, pellets, coal or thermal heating units. Fossil fuel is not considered a back up heat source.

Federal Builder Credit with HERS rating of 63 or lower $2,000 to builder.

Local NH towns allow exemption on residential property evaluation in the amount of the geothermal heat pump equipment and installation.

IRS Residential Energy Credits up to $300 in for geothermal heat pumps new homes only for tax year 2008.

New Hampshire Electric Coop 2008 Residential Geothermal Program gives rebates up to $4,500.00 to their residential customers who install a qualified geothermal heat pump system. rebate dollars are limited and will be paid on a first come first served basis.

You must build a new house with a HERS rating of 70 or lower in order to qualify for rebates. An existing home must have a HERS rating of 80 or less. The rebate is calculated at $800 per ton and $500 for all duct work in conditioned space.

Geo Smart Sustainable Financing Solutions thru GMAC Financing has multiple financing programs for energy efficient home improvements.

PSNH Home Energy Solutions Program gives rebates to customers with 30 percent permanently installed electric heat with demonstrated usage. The Geothermal heat pump runs on electricity making it applicable for this program. Rebates up to $4,000 for weatherization measures: insulation, air sealing, thermostats, electric hot water measures, etc.

Union Bank has a great program called Green Lend for financing residential and commercial energy efficient systems in your home or business. There is nothing like this in NH with greater rates and flexibility. www.unionbankvt.com