Maximizing Geothermal Incentives: Tennessee

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Tennessee flag map 300x78 Maximizing Geothermal Incentives: TennesseeWhether you live in the Appalachian foothills or along one of its winding rivers, there’s no reason for a Tennessee homeowner to pay too much on their monthly utility bill thanks to the savings provided by geothermal heat pump systems. A geothermal heat pump functions like a traditional air conditioner, but, instead of the exterior air, uses the stable subsurface as a heat source and sink. This allows a geothermal heat pump to operate at over 100% efficiency, cut your heating and cooling costs, and save you money. With all the incentive programs, there are also a lot of ways for Tennessee residents to save on initial purchase and installation.

The biggest incentive for Tennessee homeowners comes via the Department of Energy’s Residential Renewable Energy Tax Credit. As part of the American Recovery and Reinvestment Act of 2009, this tax credit lets homeowners claim up to 30% of the cost of a renewable energy system. Depending on how much you pay for a geothermal heat pump, this can be a considerable tax credit. It’s also a tax credit that can be carried from year to year. It’s a great incentive and something every geothermal heat pump buyer should take advantage of.

Middle Tennessee EMC residents can save even more on geothermal heat pump purchase and installation, since their local utility company offers an energy efficient rebate program that includes geothermal heat pumps. Middle Tennessee homeowners should contact the cooperative to learn exactly how much they can save. For other Tennessee incentives, review the listed programs at the Ingram’s Water & Air U.S. State Incentives information site.

See All Tennessee Energy Incentives

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