Maryland offers a $2,000 geothermal heat pump grant for homeowners. The grants are $500/ton of refrigeration capacity. To qualify, your heat pump needs to have a 3.5 Coefficient of Performance and a 15.5 Energy Efficiency Ratio.

Montgomery County also offers the Residential Energy Conservation Property Tax Credit. The credit is as much as $5,000 or 50 percent (whichever is less), but the credit can’t be greater than what you owe. You may also be eligible for Maryland’s Clean Energy Production Tax Credit.

Finally, the U.S. government offers a federal renewable energy tax credit for homeowners who invest in energy saving measures including geothermal heat pumps. The credit is equal to 30 percent of the cost of your geothermal heat pump.

So if the cost is $25,000, the total cost to you could be less than $12,000 if you were able to maximize the rebates and tax credits. If you’d like to get started with this project, let us get you in touch with a professional contractor.