The reinstated GHP tax credits are retroactive to Jan. 1, 2017, and extended to Jan. 1, 2022.
Get answers to your Questions. Mid-Coast Energy Systems are happy to answer your heating & cooling questions about geothermal. Find out about energy efficiency, maintenance and cost of installation. Discover how important it is to properly size a geothermal system based on demand. Data supports the many benefits of choosing geothermal to heat & cool in Maine.
Rates for fossil Fuel will only get worse. Heating fuel is slowly creeping back up in price, and will likely remain volatile in the future. A geothermal system provides a renewable source of energy by using heat from the earth that is stored beneath the ground on the property. Geothermal systems yield impressive savings to the homeowner from the first day of use. Once the system is paid off, the only monthly utility bill remaining is for minor electricity to run the heat pump.
Initially, geothermal is more expensive than other heating & cooling systems to install. In the long term, statistics prove that savings far outweigh the cost of installation (when compared to other fuel sources over the same time period.) A 30% federal tax credit and $5,000 Efficiency Maine rebate are now available.