Geothermal Incentives Get Help Funding Your WaterFurnace Installation Installing a WaterFurnace geothermal system can dramatically reduce the cost of heating, cooling, and providing domestic hot water for your home. If you're anything like your New Jersey neighbors, though, it's getting past the initial installation cost that's difficult. Don't worry. There's help. It comes in the form of various federal, state, and local financial incentives. Now through 2021, the federal tax credit is available but is scheduled to gradually decrease each year. The credit started at 30% through 2019 and has dropped to 26% through 2020, and will drop again to 22% in 2021, so act now for the most savings! Read all about it in this blog and in our special flier, Understanding the Federal Tax Incentives for Geothermal Heat Pumps. State and Local Incentives Questions about what incentives might be available for you at the state and local level? Check out DSIRE, a free, open, and comprehensive resource providing state-by-state information on thousands of policies and incentives promoting renewable energy and energy efficiency. Established in 1995 and funded by the U.S. Department of Energy, DSIRE is an ongoing project of the N.C. Solar Center and the Interstate Renewable Energy Council.