Incentives

There are a variety of incentives that can make geothermal heating and cooling more affordable.

Tax Incentives

The federal government allows tax credits for qualified expenditures to convert conventional HVAC systems to geothermal or to install new geothermal systems, for both residential and commercial properties. Businesses can also qualify for a tax deduction for new or retro-fit geothermal systems. more

Utility Rebates

PSEG LI offers rebates for geothermal heating and cooling systems through the Renewable Energy Program. more

On-Bill Financing

You can receive a low interest loan of through On-Bill Recovery Financing. This allows you to repay your loan via your PSEG LI bill, even if the utility cost savings is from no longer using a fuel such as heating oil. more