FEDERAL TAX CREDITS
Tax Credit: 30% of cost with no upper limit
Expires: December 31, 2016  
Details: Existing homes & new construction qualify. Both principle residences and second homes qualify. Rentals do not qualify. 
High performance ground source heat pumps are eligible for a Residential Energy Tax Credit when installed by a tax credit certified geothermal technician. The equipment specifications are:
Must be closed loop systems, must have a performance rating of 3.3 COP for closed loop or 3.5 COP for direct exchange (DX) systems 
System Tons BTU per hour output Est. Savings Tax Credit Amt 3 ton & underLess than 40,0001,000 kWh $6004 ton 40,000 – 49,9991, 165 kWh $7005 ton 50,000 – 64,9991,335 kWh $8006 ton and over 65,000 and over 1,500 kWh $900
$3,000 Rebate on a new geothermal install
 
$2,400 Rebate on a new geothermal install