EnergySmart Alternatives, LLC of Medford, Massachusetts is well versed in obtaining geothermal rebates for its customers. EnergySmart has secured over $385,000 in rebates since 2014 through the Massachusetts Clean Energy Center (Mass CEC) Ground-Source Heat Pump rebate program. According to a database published by the Mass CEC in July 2017, EnergySmart has secured double the rebates of their next closest competitor and has obtained more than 20% of all residential rebates awarded in Massachusetts.
“Due to the number of rebate applications we have successfully completed, we have been able to streamline the process making it easy for homeowners to qualify and obtain all the money that is available to them,” said Melanie Head, co-owner of EnergySmart. “Massachusetts is very pro-geothermal with its sales tax exemption, generous rebates through the Mass CEC, and no-interest loans through MassSave. Massachusetts has also recently kicked off a program whereby homeowners can earn and sell credits similar to a Solar Renewable Energy Credits (SRECs).”
Announced last month, the increase in the value of the Mass CEC rebate to $3,500 per heating ton (up from $1,500) is expected to give a boost to the residential geothermal industry in Massachusetts. The value of the base rebate is capped at $17,500. However, there are ‘adders’ that can increase that value for public and non-profit entities, affordable housing developments, or households below 80% and 120% of the state median income. These range from an additional $750 to $1,500 per ton heating capacity. “Our customers have seen rebates ranging from $2,850 to $17,500 with an average rebate of $8,100,” said Head. “When the rebate is combined with 0% financing for $25,000 through MassSave, geothermal becomes feasible for many more homeowners who previously thought it was financially out of their reach.”
Before installation begins, qualified homeowners must have their chosen geothermal installer complete the Mass CEC rebate paperwork on their behalf. Homeowners are responsible for scheduling a free MassSave Home Energy Assessment and providing a copy of a recent electric bill to qualify for the program. They must also sign a Participant’s Agreement indicating that they agree to participate in the rebate program.
Rebate checks are mailed typically three to four weeks after the geothermal system installation is complete and the final paperwork has been submitted by the installer. Checks can be written directly to the homeowner or to the installer. Qualified homeowners can take advantage of the rebate through 2020.
To learn more about how to apply for the available rebates click here.