Love's Geothermal Rebate's
Please see the information below about the rebates and tax incentives for the Geothermal systems.
Geothermal system above is eligible for the following tax incentives/rebates (valid for installations completed April 1, 2024 through Dec. 31, 2024):
- Federal Tax Credit of up to 30% of installation cost (including cost of outdoor wells/installed by others). Must be the primary residence.
- Utility Co. Rebate of up to: BGE-$3,440 per system, Pepco Power Co.- $2,940 per system, Delmarva Power Co.- $2,190 per system, Potomac Edison- $7,000 per system up to two systems, and SMECO- $2,190 per system
- State of MD/MEA Rebate of up to $3,000. Must be the primary residence
- Geothermal Rec credits are available for the unit(s) installed
- Anne Arundel County tax credit of up to $2,500
- Baltimore County tax credit of up to $5,000 (5 year waiting list)
- Prince George’s County tax credit of up to $5,000 (multi-year waiting list). Must have application notarized before submission.
Please see the charts below for the Conventional HVAC rebates and Tax incentives.
| Equipment | System Type | Tier | EER | COP | SEER2 | HSPF2 | Smeco | BGE | Pepco | DPL | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Air Source Heat Pumps | Single Package | 1 | N/A | 15.2 | 6.7 | $540 | $940 | $740 | $540 | ||||
| Split System | 1 | 15.2 | 7.5 | $540 | $940 | $740 | $540 | ||||||
| Single Package | 2 | 16.9 | 6.7 | $915 | $1,940 | $1,240 | $915 | ||||||
| Split System | 2 | 16.9 | 7.5 | $915 | $1,940 | $1,240 | $915 | ||||||
| Central Air Conditioner | Single Package | 1 | 15.2 | $240 | $340 | $240 | $240 | ||||||
| Split System | 1 | 15.2 | $240 | $340 | $240 | $240 | |||||||
| Single Package | 2 | 16.9 | $440 | $540 | $440 | $440 | |||||||
| Split System | 2 | 16.9 | $440 | $540 | $440 | $440 | |||||||
| Ductless Heat Pump | Multi-Zone | N/A | 15.5 | 7.5 | $540 | $940 | $740 | $540 | |||||
| Single Zone | N/A | 18 | 7.5 | $315 | $690 | $440 | $315 | ||||||
| Geothermal Heat Pump | Closed Loop | N/A | 17.1 | 3.6 | N/A | $2,190 | $3,440 | $2,940 | $2,190 | ||||
| Smart Thermostat | N/A | Energy Star | $75 | $75 | $75 | $75 | |||||||
| HP Water Heater | $700 | $1,500 | $1,500 | $1,500 | |||||||||
Yellow: SMECO
Green: BGE
Pink: Pepco
Purple: Delmarva power
Potomac Edison only is below. Heat Pump water heaters for PE is only $900
| 2024 Eligibility Requirements and Incentive Amounts | ||||||||
|---|---|---|---|---|---|---|---|---|
| Effective April 1, 2024 | ||||||||
| Potomac Edison - MD HVAC Measures | Equipment Type | Eligibility Requirements | Maximum Trade Ally Admin Fee | Minimum Customer Incentive | ||||
| SEER2 | EER2 | HSPF2 | ||||||
| CAC & Ducted Mini Split, Tier 1 | Split System | ≥15.2 | N/A | $100 | $700 | |||
| Single Package | ≥15.2 | $100 | $700 | |||||
| CAC & Ducted Mini Split, Tier 2 | Split System | ≥16.9 | $100 | $1,400 | ||||
| Single Package | ≥16.9 | $100 | $1,400 | |||||
| ASHP & Ducted Mini Split, Tier 1 | Split System | ≥15.2 | N/A | $100 | $800 | |||
| Single Package | ≥15.2 | $100 | $800 | |||||
| ASHP & Ducted Mini Split, Tier 2 | Split System | ≥16.9 | $100 | $1,300 | ||||
| Single Package | ≥16.9 | $100 | $1,300 | |||||
| Heat Pump - Cold Climate (These Measures are not eligible for Dual Fuel) |
Split System - Non Ducted | ≥15.2 | COP 1.75 5°F |
≥8.5 | $100 | $1,700 | ||
| Split System - Ducted | ≥15.2 | ≥8.1 | $100 | $1,700 | ||||
| Single Package | ≥15.2 | ≥8.1 | $100 | $1,700 | ||||
| Ductless Mini Split HP | Single Zone | ≥18 | ≥12.5 | ≥8.1 | $100 | $500 | ||
| Multi Zone | ≥15.5 | ≥12.5 | ≥7.8 | $100 | $800 | |||
| Ductless Mini Split AC | Single Zone | ≥18.7 | ≥12 | N/A | $100 | $350 | ||
| Geothermal Heat Pump | Closed Loop | ≥17.1 | COP 3.6 | $100 | $7,000 | |||
| Smart Thermostat | ENERGY STAR® Certified Smart Thermostat | $0 | $100 | |||||
Federal Tax incentive is below. We are S & SW anything North associated does not apply in Maryland
| 25C Tax Credit Requirements for 2023 (FINALIZED) | |||||||
|---|---|---|---|---|---|---|---|
| Product Type | Tax Credit Amount | Region | AFUE | SEER2 | EER2 | HSPF2 | COP (5°F) |
| Gas Furnace | $600 | ALL | ≥97% | N/A | |||
| Gas Boilers | $600 | ALL | ≥95% | N/A | |||
| AC | $600 | ALL | N/A | ≥16.0 | ≥12.0 | N/A | N/A |
| HP (ducted) | $2,000 | S & SW | N/A | ≥15.2 | ≥11.7 | ≥7.8 | N/A |
| $2,000 | N | N/A | ≥15.2 | ≥10.0 | ≥8.1 | 1.75 | |
| HP (ductless) | $2,000 | S & SW | N/A | ≥16.0 | ≥12.0 | ≥9.0 | N/A |
| $2,000 | N | N/A | ≥16.0 | ≥9.0 | ≥9.5 | 1.75 | |
| RPU – AC | $600 | ALL | N/A | ≥15.2 | ≥11.5 | N/A | N/A |
| RPU – HP | $2,000 | S & SW | N/A | ≥15.2 | ≥10.6 | ≥7.2 | N/A |
| $2,000 | N | N/A | ≥15.2 | ≥10.0 | ≥8.1 | 1.75 | |
Abbreviation meanings
HP- Heat Pump
AC- Air conditioners
RPU- Rooftop Package Units
S & SW- South & South west
