Financing Geothermal Systems
Government Tax Credit and Loan Options
Financing for Ultra Geothermal heating and cooling systems is available through several avenues including government subsidized and traditional loans. There is also a 30% government tax credit (form 5695) available for geothermal installations. For more information on this contact our office.
Energy Star Loans
The Maine, Massachusetts and New Hampshire Housing Authorities all offer loans for homeowners who improve their residences with Energy Star approved heating and cooling systems. These loans carry interest rates that are typically less than any private source of funding.
Home Equity Line of Credit
Rates on HELOCs typically have low interest introductory periods and the interest is tax deductible, which lowers the effective interest rate.
Check with your local bank for applicable rates.
FHA 203K Loans
This is a government insured loan that can be offered for up to 97% lending value of the improved home value. This is done by taking the existing home value and adding the improvement value. After successful completion of the improvements and an inspection the loan disbursements are made.
Contact Ultra Geothermal for more information on this and for a recommended contact.