- 30% federal tax credit.
- $3,000 State of Maryland Grant
- Baltimore County- $5,000 Property Tax Credit
- Anne Arundel County- $2,500 Property
- Harford County- $2,500 Property Tax Credit
- Prince Georges County- $5,000 Property
- $1,500 Utility Rebate
Cost Savings to Consider When Thinking About a Geothermal Energy Solution: The ability to offer geothermal financing for our Maryland customers is something that makes Supreme Service Today stand out. The initial investment of installing a geothermal heating and cooling system can seem expensive at first,
but once you take a look at the big picture; it can be a reality for just about any homeowner.
Here is an example: If your system is 10 years old or more, you probably should be starting to look at replacement options. This is where geothermal can currently be less expensive than a conventional system! A high-efficiency conventional system can cost anywhere between 8-12K depending on the system size type, etc. A geothermal system can cost between 20-25K initially. However, once you deduct your state rebate of $3,000, county property tax credits up to $5,000, and utility rebates of $1,500 your new geothermal system can even be less expensive than a conventional installation. Plus a geothermal system has an industry average life expectancy of 20-25 years. You will typically replace a conventional system 2 times before you will have to replace a geothermal system once.
When a geothermal system is replaced, you only pay for the equipment change out. The heat exchanger (ground loops) will last 50+ years!
The above cost comparison doesn’t even take into account the decreased energy usage you will experience. This can be up to 70% lower than your existing system! With approved credit, our 12 months special financing options gives you 12 months to receive credits and incentives, so your out of pocket cost is the same as if you chose to install a conventional HVAC system. Or you can obtain financing over an extended period of time, and your energy savings can cover the payment.