Geothermal Tax Incentive Services
Geothermal system designed and installed by Supreme Service Today is a No Brainer once you understand the True Cost of Ownership!
Example: 2,000 sq. ft. Home Geothermal System Investment
Initial Geothermal Investment Starting At $25,000
(Turn Key Cost)
26% Federal Tax credit: -$6,500
(Not Deduction this amount is Like cash
towards your federal taxes – No Cap*)
Maryland Renewable Energy Grant: -$3,000
(Check from the state of Maryland)
Baltimore County property tax credit: -$5,000
(Like cash towards your property tax bill)
Local Utility Provider: -$1,500
(Check from the utility company)
Net Investment: $8,000
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Available County Tax Incentives
- Baltimore County
- Harford County
- Montgomery County
- Anne Arundel County
- Prince Georges County
- Howard County
- Carrol County
- Frederick County
Let’s get started on your affordable geothermal project. Call Supreme Service Today Geothermal Specialists or fill out our online form and one of our specialists will get back to you right away!
Affordable Geothermal Heating & Air Conditioning in Baltimore, Annapolis, Ellicott City, Maryland, and the Surrounding Areas
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 federal tax credit (30% of the installed cost), state rebate of $3000, and county property tax credits of up to $5,000, 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.
If you finance the system for 12 months same as cash, this will give 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.
Contact us today for more information about experiencing the peace of mind and cost savings that comes with a geothermal heat pump installation!