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.

Open Checked Oct 28, 2026

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 installYou 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.

  1. Fill in the rebate form.

    Include a dated, itemized sales receipt (and ENERGY STAR documentation for appliances).

  2. Mail or bring it to the co-op.

    PO Box 437, Hampton, IA 50441.

  3. 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

Your address

Next steps

Check that it covers your address. Then, if you want, ask for a contractor quote.

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.

  1. Rebates and Energy Efficiency - Franklin RECfranklinrec.coop · Read Oct 28, 2026 · Re-checked weekly
  2. Franklin Rural Electric Cooperative Geothermal and Air Source Heat Pump rebate formfranklinrec.coop · Read Oct 28, 2026 · Re-checked monthly

When one of these pages changes, we re-check this page against it.

Report a problem with this page

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