Installation Cost

Costs will vary by location, the size of your home, equipment installed, and local incentives, but on average you can expect to pay between $18,000 to $30,000 for the installation, the indoor unit, and the underground loops. As a reminder, the system will end up paying for itself in three to four years.

Tax Credits

Homeowners who install a geothermal system are eligible for a generous federal tax credit and could also qualify for state and utility incentives.

26%

Potential tax credit this year
from Jan. 1, 2020 uuntil Dec. 31, 2020

22%

Potential tax credit next year

from Jan. 1, 2021 until Dec. 31, 2021

Average savings by state

savings-by-state

Average savings refer to dollars saved when compared to homes with a gas furnace and electric A/C, using the local gas and electric prices from each state.

Flexible Payment Plans

While installation costs tend to be higher than traditional HVAC units, flexible payment plans are available for installation. And the system can pay for itself in just three to four years.

Financial Advantages

Click here for additional local incentives.