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Geothermal Tax Incentives and Credit Resources

Geothermal Tax Incentives and Credit Resources

This page is a guide only providing links and information about the IRA and NYS programs.

NYS Guide to Inflation Reduction Act Savings

This overview found on the NYSERDA site will assist in understanding how the IRA incentives work including tax credits and rebates.


NYS Clean Heat also provides rebates for ground source heat pumps, which are eligible for a 30% IRA tax credit and 25% New York State income tax credit. Heat pump systems are being installed more frequently across New York and the U.S., with national heat pump sales surpassing gas furnaces in 2022.

Clean Heat Pump Program

WaterFurnace Federal Tax Incentives 
Commercial Geothermal Heat Pumps

Commercial Federal tax Incentive produced by WaterFurnace.

WaterFurnace Commercial Tax Incentive Brochure 

WaterFurnace Residential Tax Incentive Brochure

ClimateMaster IRA 2023
Commercial Geothermal Tax Guide 2023 

Produced by ClimateMaster as a tool to better understand the commercial federal tax credits and incentives.


Rewiring America

A variety of helpful links on Rewiring America's site - NY-GEO is grateful to be able to share their links here.  Be sure to visit their full website and prepare to be electrified!

IRA Implementation video presentation, NY-GEO Board Member Heater Deese reviews geothermal at 10:00.

Rewiring America IRA Calculator
Rewiring America IRA Fact Sheets
Including: 25C and 25D | Electrification Rebates | What the IRA Means for Contractors and Electrification | What the IRA Means for Heat Pump Manufacturers

Rewiring America - Key Programs in the IRA

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