Geothermal Heat Pump Incentive Program - Commercial

NOTICE: Funding for ground source heat pump incentives has been completely allocated to specific projects, so no additional applications will be accepted.

 

FUNDS REMAINING (April 5, 2012)

$0

Program closed

 

 

CEFIA will be developing financing programs for commercial renewable energy and energy efficiency projects.  Geothermal heat pump technology will be eligible for these, subject to the specific rules of the programs.

 

Geothermal systems draw upon the relatively constant temperature (~50-55° F) of the soil or ground water deep beneath the earth’s surface to efficiently heat buildings during colder months and cool buildings during warmer months. Because the heat pump transfers heat from one location to another (like an air conditioner), most of the heat delivered is “free” and does not have to be supplied by fossil fuels or electric energy. Energy savings for a typical home heating/cooling system typically range from 30% to 70%, with the GSHP system being most attractive compared to electric resistance heating, and least competitive versus natural gas.

 

Projects funded under the ARRA program have exhibited the following characteristics:

 

Residential

Commercial

Average Size 5.63 Tons

Average Size 36.4

Average Rebate $5,964

Average Rebate $55,674

Average Cost/ton $9,050

Average Cost/ton $8,686

 

These averages can be somewhat misleading when trying to determine the expected cost of a particular project, because site conditions, equipment selection and location all have a significant impact on costs. However, they may be useful in helping to determine whether or not a geothermal heat pump system would make sense for you. We recommend contacting two or more of the “eligible contractors” who have participated in our program, to obtain information and quotes.



Links to Contractors:  Download Eligible Installers List - Updated May 16, 2012