Making an investment in a geothermal system for your home or business has never been easier thanks to a growing number of loan and grant programs.
The following is a list of programs that further reinforce the national and international movement towards adopting more efficient, environmentally friendly and cost effective energy alternatives for heating and cooling your home or business.
CANADA
Federal Grants are Officially Back – ecoEnergy Retrofit $4,375
June 6, 2011 – March 31, 2012
The Federal Canada ecoENERGY Retrofit – Homes program provides a maximum grant of $5,000 (up to $4375 for the installation of a ground source heat pump) to help homeowners make their homes more energy-efficient and reduce the burden of high energy costs.
For more information and information about the Grant Table visit http://oee.nrcan.gc.ca/residential/personal/grants.cfm?attr=4
UNITED STATES
30% Residential Renewable Tax Credit (not deduction)
- Geothermal heat pumps placed in service in 2008: $2,000 max
- Geothermal heat pumps placed in service after 12/31/2008: no maximum
Under the Energy Policy Act, the U.S. Government offers a personal tax credit on the installation of a geothermal heat pump that either meets or exceeds the EnergyStar program requirements. While systems installed in 2008 are subject to a $2,000 cap on the credit, units installed from 2009 through 2016 can take advantage of the full credit. The incentive for home and commercial building owners who install geothermal heating and cooling systems through H.R. 1424 is a tax credit of 30% of the total investment for homeowners who install residential ground loop or ground water geothermal heat pumps and 10% of the total investment for commercial building owners for a commercial system installation.
For more information contact Public Information at the Internal Revenue Service at www.irs.gov or by phone at 1.800.829.1040.
Database of State incentives for Renewables & Efficiency (DSIRE) is a comprehensive source of information on state, local, utility, and federal incentives and policies that promote renewable energy and energy efficiency. Established in 1995 and funded by the U.S. Department of Energy, DSIRE is an ongoing project of the N.C. Solar Center and the Interstate Renewable Energy Council.
For more information visit www.dsireusa.org
State:
For information about state incentives for geothermal installations in the United States, visit the Database of State Incentives for Renewable Energy and Efficiency at http://www.dsireusa.org/.
CANADA - PROVINCES
$500/ton
LiveSmart BC: Effiency Incentive Program
Homeowners who make energy efficient upgrades to their homes may be eligible for provincial incentives and PST exemptions through the British Columbia Ministry of Energy, Mines and Petroleum Resources.
A certified energy advisor with the LiveSmart BC: Efficiency Incentive Program will perform an energy assessment of your home and recommend cost-effective options for reducing energy use. Energy efficient improvements must be made within 18 months of the assessment. Eligible improvements include ground source heat pumps.
For details, visit gov.bc.ca/empr, or livesmartbc.ca, or phone 1.866.430.8765.
FortisBC PowerSense program
For information on rebates through FortisBC, visit fortisbc.com.
$3,000
Geothermal Energy Incentive Program
The Province of Manitoba increased the provincial incentive program with an increase in tax incentive from 10% to 15% effective April 13, 2011.
- For geothermal installations in new homes, Manitobans can receive up to $3,000 in incentives including a refundable Green Energy Equipment Tax Credit worth about $2,000, and a $2,600 grant for homes in natural gas serviced areas of the Province.
- For conversions to geothermal in existing homes, Manitobans can receive a refundable Green Energy Tax Credit worth about $3,000 from the Province of Manitoba.
- Owners of commercial buildings and apartments may be eligible to receive up to 10 per cent of the value of their installed systems.
The expanded Manitoba Geothermal Energy Incentive Program information is posted on the "Provincial Geothermal Incentives" page or at www.manitobaenergy.ca or www.gov.mb.ca
The Provincial Incentive Program requires installations be completed by accredited certified MGEA installers. MGEA policies require a geothermal installation permit for all geothermal installations in Manitoba.
Residential Earth Power Loan
Manitoba Hydro’s Earth Power Program offers homeowners who are installing geothermal heat pumps with access to Residential Earth Power Loans. The loan includes financing up to $20,000 for new installations and retrofits. The heat pump must be designed and installed by a certified contractor. Homeowners can apply for the loan through their contractor.
For more information, visit www.hydro.mb.ca
$5,000
Efficiency New Brunswick
Efficiency NB will subsidize a home energy assessment by a Natural Resources Canada certified energy advisor up to $400, depending upon the size of your home. Once you have completed energy efficient upgrades to your home based on audit recommendations (including geothermal), you will be reassessed and Efficiency NB will provide a grant to a maximum of $5,000 or an interest-free loan up to $10,000 repayable over a maximum six-year term.
- For existing homes visit: www.efficiencynb.ca
- For new homes visit: www.efficiencynb.ca
PRINCE EDWARD ISLAND
The provincial government offers a PST exemption on small-scale renewable energy equipment with a rating of 100 kilowatts or less including ground source or geothermal heat pump energy generating systems. The exemption is retroactive to April 8, 2005.
For more information visit the Ministry of Environment, Energy and Forestry website at www.gov.pe.ca/envengfor/index.php3?number=1012183 or contact Provincial Treasury, Taxation and Property Records at 902.569.7542.
$3,300
Hydro-Quebec Grants
Grants of up to $3,300 are available from Hydro-Quebec for homeowners planning to install geothermal heating and cooling systems. The system must have been installed after April 30, 2007 and must be certified by the Canadian Geoexchange Coalition. Additional financial assistance is also available through the Novoclimat et Renoclimat programs at Quebec’s Agence de l’efficacite energetique.
For more information visit Hydro-Quebec’s website at www.hydroquebec.com or call 1.800.363.7443.
$5,000
Saskatchewan EnerGuide for Houses Retrofit Grant
Planning on making energy efficient upgrades to your home? Make sure to have your audit completed first to take advantage of up to $5,000 in provincial grants. For more information, visit www.saskenergy.com.
SaskPower Eneraction Loan Program
SaskPower Eneraction offers a loan program for residential homeowners and farmers who install a Canadian Geoexchange Coalition (CGC) certified geothermal heating system. It applies to retrofits in existing homes or installations in new homes. Those eligible can receive a loan for up to $50,000 to install a geothermal system.
SaskPower Eneraction has added a $3,500 enhancement to its existing provincial Energy Efficiency for New Homes Rebate Program for customers who are building new ENERGY STAR® qualified, R-2000 certified or EnerGuide 80 homes and want to install a geothermal system. For more information, visit www.saskenergy.com.
For more information about the loan program, please visit www.saskpower.com or contact the Program Manager at 306.566.5803.
For more information about the Net Metering Program contact the Saskatchewan Research Council at www.src.sk.ca or phone 306.933.5400.
OTHER PROVINCES & TERRITORIES
Other than the federal ecoENERGY Retrofit Program, there are currently no known provincial or territories loan or rebate programs available in Alberta, Newfoundland and Labrador, Nova Scotia, Northwest Territories, Nunavut, or the Yukon.
