Maryland home and business owners eligible for thousands in state grants – plus generous federal tax credit – for installing geothermal energy systems

There’s good news for Maryland home and business owners who want to install geothermal energy systems: The state will provide up to $3,000 in grant assistance for residential installations and up to $10,000 in grants for commercial installations.

In addition, qualified geothermal heat pumps installed after December 31, 2008 are eligible for a Federal income tax credit equaling 30% of the total installed cost under the American Recovery and Reinvestment Act (ARRA) of 2009, according to the Maryland Energy Administration.

These two forms of assistance combined substantially reduce the cost of installing geothermal systems in Maryland.

To apply for a grant, a home or business owner must take the following steps:

• Complete, sign, and date the 2-page Application Form.
• Review, sign, and date Geothermal Grant Program Terms and Conditions Revised Jan 2010 as well as read the ARRA Addendum – Special Terms and Conditions for ARRA-Funded Grants Revised Jan 2010.
• Complete the Maryland Historical Trust Project Review Form (only if property is located within a Historic District or structure is more than 50 years old).
• Submit a signed cost estimate, purchase order, invoice, or letter of intent.
• Submit an itemized list of components.
• Submit a site plan exhibiting location of wells and loops (Aerial image from Google Earth, Google Maps, digital photo or print photo are all acceptable as long as location of work is clearly marked, will satisfy MHT review supporting documentation ).
  

For complete information on Maryland’s Geothermal Grant Program and its requirements (as well as a link to information on the Federal tax credit), go to http://www.energy.state.md.us/incentives/residential/geothermalgrant/index.asp

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