Information about available incentives & programs
Iowa Lakes Electric Cooperative Heat Pump Incentives
Geothermal Heat Pump
• $1000/ton
• $50/unit bonus if installed with desuperheater
ENERGY STAR® rated or at least EER 14 and COP 3.3;
20-ton maximum per structure without prior approval.
Geo HP replacing Geo HP
• $500/ton
Air Source Heat Pump
Two units maximum per single-family dwelling or outbuilding. One rebate maximum per family in multifamily dwelling.
SEER 15+/SEER2 14.3+
• $500/ton
With gas backup and load control agreement
SEER 15+/SEER2 14.3+
• $650/ton
Mini-Split/Hotel-Type Ductless Heat Pumps
SEER 15+/SEER2 14.3+
• $500/ton
Two units maximum per single-family dwelling or out building. One rebate maximum per family in multifamily dwelling.
Air Source or Geothermal Heat Pump Compressor Replacement
• $100/ton
• $1000/ton
• $50/unit bonus if installed with desuperheater
ENERGY STAR® rated or at least EER 14 and COP 3.3;
20-ton maximum per structure without prior approval.
Geo HP replacing Geo HP
• $500/ton
Air Source Heat Pump
Two units maximum per single-family dwelling or outbuilding. One rebate maximum per family in multifamily dwelling.
SEER 15+/SEER2 14.3+
• $500/ton
With gas backup and load control agreement
SEER 15+/SEER2 14.3+
• $650/ton
Mini-Split/Hotel-Type Ductless Heat Pumps
SEER 15+/SEER2 14.3+
• $500/ton
Two units maximum per single-family dwelling or out building. One rebate maximum per family in multifamily dwelling.
Air Source or Geothermal Heat Pump Compressor Replacement
• $100/ton
IRS: Federal Tax Credit for Residential Heat Pump Installations
Any combination of heat pumps, heat pump water heaters and biomass stoves/boilers are subject to an annual total limit of $2,000. (Note: ENERGY STAR certified geothermal heat pumps are eligible for a separate tax credit and not counted against these limits.)
- Consult your tax adviser to make sure you qualify
- Restrictions apply, subject to change without notice