Rebates from Iowa Lakes Electric Cooperative and tax credits are available for replacing your old heating and cooling (HVAC) equipment.
When you switch to electric heating from Iowa Lakes Electric Cooperative, you'll really save! Our program offers an incredible 3.610¢/kWh credit for electricity used to heat your home October-April! Compare your savings with any other method of heating available, and you'll see why more and more member-owners choose an electric heat pump.
In order to receive the electric heat credit, a sub-meter is required. Contact Iowa Lakes Electric Cooperative at 800-225-4532 for details.
Geothermal Tax Credits
There is a 26 percent Federal tax credit for geothermal heat pumps through 2022. Residential credits will step down to 22 percent in 2023 and expires January 1, 2024.
It's recommended you consult your accountant or tax advisor to determine your potential tax savings.