Call Today! (717) 755-0015 Welcome Our Services Geothermal Service Areas Financing Contact Us Financing and Rebates With increasing tax credits and utility rebate incentive programs, now is a great time to invest in a geothermal system! Financing for Energy & Resilience Home Improvements NEIF helps homeowners improve comfort, resilience, health and efficiency with simple, trusted and transparent financing. We focus on guaranteed fixed rate monthly payment plans with no lien on your home, no closing fees and no cost to contractors. Learn how simple and affordable it is to upgrade your home’s heating, cooling, windows, roofing, insulation, air quality and more. Learn More Conserve Energy and Save Money Trust your home to the specialists and enjoy the benefits and savings of renewable energy! Our goal is to help you conserve energy and save money! The initial installation price of a geothermal system may appear to be more than that of an air source system of the same heating and cooling capacity, but the additional costs can be returned by utilizing the tax credit and rebates combined with energy savings in as little as two-five years. In some instances a geothermal system investment costs the same as a traditional high efficiency system, but geothermal pay back is constant and ongoing. Tax Credit Timeline 26% tax credit for systems placed in service from January 1, 2021 until December 31, 2022 22% tax credit for systems placed in service from January 1, 2023 until December 31, 2023 The credit is up for renewal on January 1, 2024 If I installed a qualified geothermal heat pump in my existing home, can I claim the tax credit? Yes, you can! The tax credit applies for new and existing homes installing a qualified geothermal system. Can the geothermal heat pump tax credit combine with other energy efficient tax credits like solar? The tax credit can be used in conjunction with other energy efficiency upgrades, like solar and wind tax credits and can be used to offset Alternative Minimum Tax (AMT). There isn't a cap or limit on the amount of times the credit can be claimed. If you have more than one home, then the credit could apply for each residence where geothermal equipment (and other energy-efficient upgrades) is installed. Is a geothermal heat pump worth the investment without a tax credit? Absolutely! The tax credit simply lowers the upfront cost of a geothermal heat pump. The benefits, like cost-savings on energy bills, fewer maintenance needs, improved home comfort, and more exist with or without the tax credit. Additionally, there are flexible payment plans available to assist with the upfront cost. When compared to the costs associated with a traditional HVAC system, many homeowners see more money in their wallet within the first month of install – that's with the monthly payment and energy costs combined! 1755 Whiteford Road, York, PA 17402 | (717) 755-0015 Copyright © All Rights Reserved. PA-053898