There are several advantageous tax credits for energy efficient systems and Geothermal. At Gagnon, we want you to be aware of the many benefits of geothermal energy - beyond the environmentally friendly advantages for our planet; there is now Federal stimulus available in the form of tax credits for residential projects, both new and upgrades, and commercial projects via tax credits, grants or accelerated depreciation.

For residential applications, geothermal heat pump systems (new, retrofit, primary and non-primary residences) are eligible for a 30% tax credit with no cap through December 31, 2016. The 30% residential tax credit has the effect of making geothermal systems cash flow positive at today’s energy prices in virtually every market. The previous $2,000 cap has been removed. Water-to Water Units now qualify for residential tax credit.

For commercial projects, there is a 10% federal tax credit or grant and 5 year accelerated depreciation.

For non-profits and municipal projects, 10% grants are available in lieu of tax credits.

With our partners at Northeast Geo we are pleased to inform you of the many benefits of geothermal, for the environment and for your economics. To answer your FAQ’s on Geothermal energy and credits, go to FAQ at Northeast Geo.

For the latest updates on GEO qualifications on residential projects, visit the Government Energy Star website

Maine links for Permitting and Tax Credits, Rebates, and Energy Efficient Loans available.
Maine Permitting: Residential/Commercial (PDF)
Maine Permitting: Supplemental Geothermal Well Information Form (PDF)
Efficiency Maine Credits, Loans and Rebates
Efficiency Maine Program Manager: Shirley I. Bartlett, 18 State House Station Augusta, ME 04333-0018, Ph:: 207-287-3318, Fax: 207-287-1039

Some additional helpful links for Residential Geo Thermal Tax Credits
Energy Star on Geothermal Requirements (PDF)
IRS Form 5695 For Residential Applications
H.U.D. - Energy Efficiency Mortgage Information
Dan Ellis Comments on Residential Tax Credits (PDF)
E-Star qualified ClimateMaster - Water-to-Water Geothermal Units (PDF)
E-Star qualified ClimateMaster - Water-to-Air Unit Ratings - (PDF)
Database of State Incentives
ClimateMaster Residential Tax Credit Certificate (PDF)
Super Saver vs. Basic Rate "A" Performance Metric (Excel Sheet)

Federal links for Geothermal Energy Tax Credits
How To Apply For Renewable Energy Grants
IRS Form 3468 For Commercial Applications (PDF)
U.S. Department of Treasury Application Page
Commercial Program Requirements (PDF)
Sample Application (PDF)
Guidance Document (PDF)
Commercial Systems: Renewable Energy Grants
USDA Energy Efficiency Rebate Program for Rural Projects
Vice President Biden releases "Recovery Through Retrofit Report" (PDF)

Geothermal Energy Research and Info from Dr. John Logan - Water Energy Representative, Raymond, Maine
Dr. Logan's Overview of Geothermal Systems in Maine (PDF)
Geothermal Heating Costs Numbers To Remember (PDF)
Motivation for Choosing Geothermal Climate Control (PDF)
Geothermal Installations In Maine (PDF)
New construction cost comparison tool (Excel Sheet)
Geothermal systems in Maine (PDF)
Annual CO2 comparison for Geo and Fossil Fuels (PDF)
Geo vs. Propane cost estimate tool (Excel Sheet)

Gagnon Heating & Air Conditioning, Inc.
Route 302, Bridgton, Maine
jeff@gagnongeothermal.com
Phone: 207-647-8782, Cell: 207-632-3239
GPS Address: 14 Seymour Drive, Bridgton, Maine
Mailing Address: PO Box 814, Bridgton, ME 04009