The Leading Geothermal Installer for New Hampshire, Maine & Massachusetts

Financing for Geothermal Installations

Our professionals will help you with choosing the financing and aids available for your situation.

Click on the option for details

Guide to Green Loans and Energy Efficient Tax Credits

Tax Credits & Incentives

In August 2022, the federal tax credit for geothermal heat pump installations was extended through 2034. Eligible systems must use stored solar energy from the ground for heating and cooling and meet ENERGY STAR requirements at installation. The credit has no cap and can be claimed multiple times.

Federal Tax Credits Through 2034

A 30% tax credit for residential ground source heat pump installations is available through December 31, 2032. It decreases to 26% in 2033 and 22% in 2034, so act quickly to maximize your savings. This credit can also be combined with solar, wind, and energy efficiency upgrade incentives.

Federal tax credits require the geothermal heat pump to meet ENERGY STAR standards.
> Energy Star Compliance Certificate (R-410A)

> Residential Tax Incentive Guide


DSIRE

Database of State Incentives for Renewables & Efficiency. Search by zip code:

dsireusa.org

Massachusetts Clean Energy Center

  Incentives are available to Massachusetts residential customers who install ground-source heat pumps.

Mass Save Energy Saving Programs

  Massachusetts customers: find out if you are eligible for Heating Equipment Rebates by replacing your boiler or furnace.

Financing for Massachusetts customers

Apply for 0% loans to help you make qualified energy efficient home improvements with the Mass Save HEAT Loan program. You could qualify for loans up to $25,000 with terms up to 7 years, depending on the utility and the loan provider.

Home Energy Savings Program in Maine

Efficiency Maine offers incentives up to $3,000 for geothermal systems (also called ground source heat, ground source heat pumps, or geothermal heat pumps) through the Home Energy Savings Program.

Financing Solutions for Mainers

  Efficiency Maine offers a variety of energy loans to help you pay for energy upgrades. All loans are low-interest, long-term loans with no fees. The application process is simple and quick. Often, annual energy savings exceed the cost of monthly loan payments in the very first year.

  • Efficiency Maine ENERGY LOANS are available statewide providing very quick closing and unsecured loans up to $15,000 over a 10 year term.
  • PACE loans are available in more than 173 municipalities and provide up to $15,000 over 15 years at 4.99% APR on any residential property with 1 to 4 living units.
  • HUD PowerSaver loans are available statewide but only for free standing single family homes. Borrow up to $25,000 at 4.99% APR for a 15 year term.

New Hampshire Electric Cooperative

Geothermal Heat Pumps Incentives of 35% of installed cost up to $10,000, which includes all mechanical and distribution equipment as well as Geothermal well drilling and upgrades.

 

NH Saves

Rebates on heating and water heaters for New Hampshire customers Installing energy efficient heating and/or water heating equipment can save you money, improve the comfort of your home, and contribute to a cleaner environment. NHSaves provides incentives for high efficiency heating and water heating equipment, regardless of fuel type.

 
Rates on HELOCs typically have low interest introductory periods and the interest is tax deductible, which lowers the effective interest rate. Check with your local bank for applicable rates.
Financing for Ultra Geothermal heating and cooling systems is available through several avenues including government subsidized and traditional loans. There is also a 30% government tax credit (form 5695) available for geothermal installations. For more information on this contact our office.
Financing the Clean Energy Movement 
Clean Energy Credit Union is committed to financing the clean energy movement. Our Clean Energy Loans are intended to help members utilize clean energy, reduce energy consumption, save money, and protect our planet for future generations.
The Maine, Massachusetts and New Hampshire Housing Authorities all offer loans for homeowners who improve their residences with Energy Star approved heating and cooling systems. These loans carry interest rates that are typically less than any private source of funding.
This is a government insured loan that can be offered for up to 97% lending value of the improved home value. This is done by taking the existing home value and adding the improvement value. After successful completion of the improvements and an inspection the loan disbursements are made. 203(k) Rehabilitation Mortgage Insurance Dan Marrs Envoy Mortgage 488 Central Ave, Dover, NH 03820 603-674-5697

Home Improvement Lending

Home Loan Investment Bank 
Steven Breault, Senior Account Executive 

Apply online
NMLS # 1164597
One Home Loan Plaza
Warwick, RI 02886
Dir. 401-773-9709
Cell. 401-301-0926
Fax 888-261-1190

 

Home Loan Investment Bank is proud to offer customers the FHA Title I Home Improvement Loan. This flexible and affordable product gives homeowners the opportunity to finance home improvements and repairs. 
Title 1 Home Improvement Lending Information (PDF) 
Title 1 Home Improvement Loan Application (PDF)

New Hampshire: The New Hampshire Public Utilities Commission’s Competitive Electric Power Supplier (CEPS)
A resource designed to help residents and businesses in New Hampshire compare and shop for electricity supply rates. The platform provides an easy-to-navigate interface that displays current energy supplier options, contract terms, rates, and renewable energy content. Users can make informed decisions by comparing competitive suppliers against their local utility’s default service rate, empowering them to save money or choose greener energy alternatives. The site also offers educational resources to enhance understanding of energy deregulation and consumer choice in the state.
SEE CURRENT RATES

 

Maine: The Maine Office of the Public Advocate
Information on electricity supply options, including a representative sample of Competitive Electricity Providers (CEPs) operating in the state.

MAINE

 

Massachusetts: The Energy Switch Massachusetts
The Massachusetts Department of Public Utilities, allows consumers to compare electric supply products and choose their electric supplier.

ENERGY SWITCH MASSACHUSETTS