What Financial Incentives are available?
The Federal Government offers a tax incentive for HVAC equipment that uses renewable energy, including geothermal heat pumps. This means you receive money back (or receive a credit against your tax bill) for investing in a Well-Connect for your home. For systems installed between January 1, 2022 through December 31, 2034, the credit is 30%.
There are often rebates available from electric utilities and/or state based programs that range from $1,000 to over $5,000. In addition, many electric utilities have lower electric rates for geothermal heat pumps – this further reduces your heating and cooling costs.