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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 until Dec. 31, 2022

22%

Potential tax credit next year

from Jan. 1, 2021 until Dec. 31, 2023

Source: energy.gov

Average 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.

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Take your first step to make the switch

Interested in taking the first step? We’ll send you an email which will help you compare quotes and how much money you’ll save, including tax credits. You can then schedule an appointment with an energy consultant to find out if your home qualifies for a geothermal system.