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Financial Advantages
Low operating and maintenance costs
Increase your home's resale value
Purchasing Geothermal
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. (If you were to stick with traditional HVAC, in the long run you could have paid for a geothermal system and much more.)
Pricing Information
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.
Average savings by state
Tax Credit
Homeowners who install a geothermal system are eligible for a generous federal tax credit and could also qualify for state and utility incentives.
26%
from January 1, 2020 until December 31, 2020
22%
from January 1, 2021 until December 31, 2021
Source: energy.gov
