Franklin Rural Electric Cooperative customers, Iowa · Rebate
Geothermal and Air Source Heat Pump Rebate
Run by Franklin Rural Electric Cooperative
Franklin REC pays $1,000 per ton for a geothermal heat pump (plus $50 with a desuperheater), $500 per ton for a geothermal replacement, an air source heat pump or a ductless mini-split, and $650 per ton for an air source add-on with gas backup.
Amounts
How much you get
Per ton of cooling capacity from the AHRI directory. The amount depends on which of these fits your install.
| What you install | You get |
|---|---|
| Per tonGeothermal heat pump | $1,000 |
| Per unitDesuperheater bonus | $50 |
| Per tonGeothermal replacing geothermal | $500 |
| Per tonAir source heat pump (SEER2 14.3+) | $500 |
| Per tonAir source add-on with gas backup | $650 |
| Per tonMini-split or ductless heat pump (SEER2 14.3+) | $500 |
Eligibility
Do I qualify?
You need to meet all 2 of these.
Member receiving electric service from Franklin Rural Electric Cooperative at the address where the equipment is installed.
The gas-backup add-on rebate requires signing a load control agreement for the heat pump.
What to doSign the co-op's air source heat pump load control agreement.
Equipment
What equipment counts
The program sets these minimums for heat pumps.
- Geothermal heat pumps
ENERGY STAR rated or minimum of EER 14.0 and COP 3.3.
- Heat pumps
SEER 15+ / SEER2 14.3+.
Applying
How to apply
You apply by mail.
- Fill in the rebate form.
Include a dated, itemized sales receipt (and ENERGY STAR documentation for appliances).
- Mail or bring it to the co-op.
PO Box 437, Hampton, IA 50441.
- Receive the rebate.
Paid as a bill credit or check.
Forms and instructions, including for applying by mailRebates and Energy Efficiency - Franklin REC · Franklin Rural Electric Cooperative Geothermal and Air Source Heat Pump rebate form
Questions about applying641-456-2557 or franklinrec@franklinrec.coop
Stacking
Use it with
Your address
Next steps
Check that it covers your address. Then, if you want, ask for a contractor quote.
Is it available at your address?
Before anything else
Your quote request is in If a contractor we work with serves your ZIP, they can contact you. We take one request per person; contact us to change it.
Get an email if this program changes
We'll write if its amount, status or deadline changes. Nothing else.
FAQ
Questions
How much does Geothermal and Air Source Heat Pump Rebate pay?
$50 to $1,000, depending on what you install. The table under How much you get lists each amount.
Do I need to be a Franklin Rural Electric Cooperative customer?
Yes. It’s only for homes in Franklin Rural Electric Cooperative customers, Iowa. See Do I qualify for the details.
Do I need approval before I buy?
The gas-backup add-on rebate requires signing a load control agreement for the heat pump. Sign the co-op's air source heat pump load control agreement.
Is it still available?
Yes. It was open when we last checked, on October 28, 2026.
Plain words
Words used on this page
- SEER2 and EER2
- Cooling efficiency ratings on the model’s spec sheet. Higher is better.
References
Sources
This page is built from these official pages, run by the program itself.
- Rebates and Energy Efficiency - Franklin REC
- Franklin Rural Electric Cooperative Geothermal and Air Source Heat Pump rebate form
When one of these pages changes, we re-check this page against it.
Nearby
More in Iowa
Franklin Rural Electric Cooperative customers, Iowa
Geothermal and Air Source Heat Pump Check-Up Rebate
Amount varies
Franklin REC pays $50 per heat pump when a contractor checks and tunes an air source, mini-split or geothermal system, once every three years.
Checked Oct 28, 2026
All of Iowa
Geothermal Heating & Cooling System Property Tax Exemption
Amount varies
Iowa homeowners who install a geothermal heating or cooling system pay no property tax on the value it adds to the home for ten years. File form 54-011 with your city or county assessor by February 1 of the first year you claim it.
Checked Oct 28, 2026
Heartland Power Cooperative customers, Iowa
2026 Energy Efficiency and Conservation Incentives
Up to $1,000 back
Heartland Power Cooperative members get 2026 rebates of $25 to $1,000 on ENERGY STAR appliances, appliance recycling, water heaters, heat pumps ($200 to $400 per ton), windows, smart thermostats, EV chargers and audit-recommended improvements.
Checked Oct 28, 2026