Geothermal System Rebates
Hancock-Wood annually offers a $900 rebate on new or replacement geothermal system installations until funding is depleted.
Also receive a four-month (June - Sept.) $5.50 bill credit whether the switch is activated or not. This is part of our program to help control the demand for electricity and continue to stabilize rates.
Installation of a Radio-Controlled Switch is required for rebate; however, not all systems are able to accept having a switch installed. If your system will not accept a switch, this will only affect $100 of the entire rebate. Please call us so we can schedule an evaluation of your system.
Frequently Asked Questions About Geothermal
Hancock-Wood rebates are offered on a first-come, first-served basis between Jan. 1, 2022 and Dec. 31, 2022, or when funds are depleted, or the program is discontinued.
- Equipment must be rated by a nationally recognized testing organization (Air-Conditioning & Refrigeration Institute, Canadian Standards Association, etc)
- Equipment must be in compliance with ENERGYSTAR¨ requirements for both Energy Efficiency Ratio (EER) and Coefficient of Performance (COP) minimums at the time of installation. This will ensure systems will meet requirements for Federal tax credits for geothermal system installation.
- This rebate is for only new ENERGY STAR® certified systems purchased between Jan. 1, 2022 and Dec. 31, 2022.
- Requirements : Closed loop water-to-air: EER 17.1 and COP 3.6 or greater. Open loop water to air: EER 21.1 and COP 4.1 or greater.
- The complete system, including any necessary supplemental devices, or other nationally recognized testing organization, should be in accordance with Underwriters Laboratory standards.
- All systems must be installed in accordance with manufacturer's specifications and recommendations. The system should meet applicable federal, state or local agency standards.
- Open loop systems must have documented water quality and quantity tests conducted by the installer, distributor, or manufacturer evidencing the sustainability and availability of water required for the application.
- Group loops should be installed by professionals who follow procedures established by the International Ground Source Heat Pump Association (IGSHPA).
A maximum of two rebates may be paid per residential Member home.
How do I participate?
- Contact Us before you purchase your system to inquire whether or not the system you are considering will work with our switches. Not all systems are conducive to having a switch installed, so please inquire whether or not the system you are considering will work with our switches before purchase.
- As the geothermal system is being installed, you must have a free radio-controlled switch (RCS) attached to it. Contact us to have this scheduled. We require the switch to remain installed on the geothermal unit for the life of the system.
- When the technician arrives to install your switch, please have the following information available:
- Your name, address, phone, email
- Installing contractor name, address, phone, fax, email
- Brand/manufacturer name
- Size of system (in tons)
- Model number
- Serial number
- Size of resistance backup to be controlled (in KW)
- Domestic water heating option (indicate one of the following): a. Supplemental, b. On-demand, c. No domestic water heating
- Type of loop (indicate one): a. Horizontal, b. Vertical, c. Pond, d. Open well, e. Pump & dump
4.Our member services representatives will complete your paperwork and a check will be mailed to you within four weeks.