Geothermal Journey – The Cost

What Will Geothermal Cost?

You have met with our geothermal design team from Ground Loop Heating and Air Conditioning.

You have chosen the final design for your new geothermal system.

Now is the perfect time to analyze your investment and discuss how geothermal will affect your monthly utility bills. We can give you some insight into the true cost of owning a geothermal heating and cooling system.

You will pay more to buy and install a geothermal system than a gas furnace or air conditioner. But you will save money in the long run.

And you will increase the market value of your Baltimore, MD, home.

You will get a better return on your investment because you will save more money on your utility bills, repairs, maintenance, and replacement.

According to the U.S. Department of Energy (DOE), geothermal heat pumps “can reduce energy use by 30 to 60 percent, control humidity, and fit in a wide variety of homes.”

Reducing energy use means you will spend less on utility bills. Over its expected 25-year service life, your geothermal heat pump will outlast all other conventional heating and cooling systems.

With an estimated 50-year lifespan, your geothermal loop will outpace the longevity of all other HVAC components, saving you money in the long run.

Geothermal Financial Incentives in Maryland, Pennsylvania, and Delaware

You do not have to shoulder the entire cost of geothermal yourself.

Through the Inflation Reduction Act (IRA), the federal government provides an uncapped 30 percent tax credit through 2032 for qualifying geothermal equipment. Take advantage of these tax credits to upgrade your comfort and property.

The IRA also set aside billions of dollars for rebates that are expected to roll out in 2024. Funding varies from state to state, and the programs benefit low- and moderate-income households.

Home improvements eligible for these federal rebates include geothermal heat pumps.

Our Baltimore, MD, geothermal experts will help you find as many financial incentives as possible to cut the cost of your new geothermal heating and cooling system. Local and state funds may be available in addition to federal dollars.

Paying for Your New Geothermal System

Need to pay for your new geothermal system over time? Ground Loop Heating and Air Conditioning offers a loan to meet your needs.

Ask us about our conventional HVAC financing or our 12-month Same-As-Cash loans. We offer convenient financing options to make geothermal ownership as easy as possible.

Take Advantage of Geothermal Financing

At Ground Loop Heating and Air Conditioning, we will discuss the cost of ownership, incentives, and financing before starting preliminary installation work. Call today at 410-836-1706 or request service online to learn more about the benefits of geothermal energy for your Baltimore, MD, home.

Need HVAC Service?

Contact the experts at Ground Loop Heating and Air Conditioning.

Call us at 410-836-1706!