Geothermal leasing, explained straight.
Palmetto owns the system, you make one payment a month for ten years, and I install it and service it the whole time. A $25,000 system runs $225 a month. A $40,000 system runs $332. Nothing down to start.
Approved Palmetto Partner · ClimateMaster GeoElite · IGSHPA Accredited · 4.8 stars, 300+ Google reviews
Free Saturday and Sunday consultations. I look at the house, size the system and walk you through the numbers, no charge and no obligation. Statewide for geothermal, as availability allows.
Disclaimer: Labor, filters, and preventative maintenance are all subject to terms and limitations included in the contract. Inflation-Proof Protection is based on expected inflation costs on services covered under the contract for the ten-year term. Interest Paid is estimated on an annual percentage rate expressed as a yearly percentage and does not imply that the Monthly Payment is exclusive of lease costs related to the geothermal system.
What a lease actually is
It is third party ownership. Palmetto owns the equipment, you pay one monthly amount, and I am your service provider for the full ten years. That is the whole shape of it, and the rest of this page is the detail nobody volunteers until after you sign.
- One payment, 120 timesEven payments, no balloon in the middle, no rate that moves on you.
- Nothing downThe job does not start with a check out of your savings.
- It is a lease, not a loanI will not call it zero percent financing. Those are different things and the difference matters at tax time.
- A buyout at the endThere is a buyout at the end of the ten years. Nothing down never means you own it on day one.
- I stay the service providerSame truck, same phone number, for the whole term. You are not handed off to a call center.
- Federal credits are Palmetto’s sideThrough third-party ownership, Palmetto can monetize available tax credits and apply that value to the customer’s benefit. You claim nothing on your own return.
What the monthly number covers
The short version, because the Comfort Plan page walks through the service side in detail. Everything in this list is inside the one payment.
The limits, said plainly
You should hear these from me now instead of finding them later. None of them are deal breakers. All of them are real.
- Maintenance is capped, not unlimitedThe program covers two maintenance visits a year and $240 a year of filters. Real numbers with a ceiling. Anybody selling a lease as unlimited free service is selling you something.
- Labor beyond the manufacturer allowance is case by casePalmetto approves it, and they typically cover the going rate, but it is an approval and not a guarantee.
- You do not own it during the termThere is a buyout at the end of the ten years. Nothing down does not mean you own it, and I am not going to let anybody tell you otherwise.
- The federal credit is not yoursUnder a lease Palmetto owns the equipment. Through third-party ownership, Palmetto can monetize available tax credits and apply that value to the customer’s benefit. Check current IRS and ENERGY STAR guidance and talk to your own tax preparer about your situation.
Who qualifies
- Soft credit pullChecking does not affect your score.
- 680 FICO guidelineThat is the guideline, not a wall. Call me and we will look.
- No debt to income requirementUnusual, and it helps a lot of people who get turned down elsewhere.
- No bankruptcy in the last seven yearsStraightforward requirement.
- You are on the property titleCo-applicants are fine.
- Bank autopay before approvalSet up once, then it runs itself.
- Every state except MinnesotaOklahoma is fine, and I travel most of the state for geothermal.
- Residential ClimateMaster, except Trilogy 45I am a GeoElite dealer and IGSHPA accredited, so I size the loop myself.
On a commercial project you pick one
The lease and the commercial incentive cannot be stacked. There is an incentive path tied to owning the equipment, and there is the lease where Palmetto owns it. You cannot have both, and that is structural rather than a policy anybody chose. Which one wins depends on your project, so call me and we will run both.
The rebate side is different money, and in almost every case it still comes to you: nothing down, and the rebate money that still comes to you.
Straight answers
How much is a geothermal lease payment in Oklahoma?
A $25,000 system runs $225 a month and a $40,000 system runs $332 a month, 120 even payments with nothing down. Those are Palmetto’s approved samples, not your quote. Your number comes off their calculator once I have your house and your load, and you get it in writing before you sign anything.
Is the Geothermal Comfort Plan a loan?
No. It is a ten year lease. Palmetto owns the system, you make one payment a month, and there is a buyout at the end of the term. I will not call it zero percent financing, because it is not a loan and the difference matters at tax time.
Does the geothermal lease include the ground loop?
Yes, and that is the part that matters most. The loop, the heat pump, the install, the controls and flow center, the desuperheater, required electrical and duct work are all inside the one payment. The loop is usually what makes people flinch at a geothermal quote.
What credit do I need for a geothermal lease?
The guideline is a 680 FICO, checked with a soft pull so looking does not affect your score. There is no debt to income requirement, which helps more people than you would think. No bankruptcy in the last seven years, you have to be on the property title, co-applicants are fine, and bank autopay gets set up before approval.
Do I still get my utility rebate if I lease?
In almost every case, yes. Palmetto claims the federal side and leaves utility, state and local programs to the homeowner, unless a specific program pays the owner of the equipment. Tell me your ZIP and your electric provider and I will check the current official program before anybody quotes you an amount. I will not guess on a rebate.
What happens at the end of the ten years?
You renew or you buy the system out. The buyout is figured the way Palmetto’s geothermal calculator shows it, and I will walk you through that number before you sign, not after.
Which geothermal equipment can be leased?
All residential ClimateMaster geothermal equipment except the Trilogy 45 models. I am a ClimateMaster GeoElite dealer and IGSHPA accredited, so I size the loop and the system myself instead of taking somebody else’s numbers off a spec sheet.
Do you do free consultations on the weekend?
Yes. Saturday and Sunday geothermal consultations are free. I look at the house, the yard and what is heating it now, size the system and walk you through the payment, at no charge and with no obligation. For geothermal I travel statewide, as availability allows. Call 405-375-4822 and I will tell you what weekend time is open.
Can I still have geothermal installed before Thanksgiving?
If we start now, the loop work and the install still fit before Thanksgiving, where the schedule allows. Geothermal takes longer than swapping a furnace because the loop goes in first, so the earlier I see the property, the easier it is to hold a date. I will tell you straight what is realistic once I look at the project.
Tell me about the house
Square footage, what is heating it now, how the yard sits, and whether you are replacing or building. I will tell you straight whether geothermal fits, and what the payment looks like on your project.
Call 405-375-4822Free Saturday and Sunday consultations, no charge and no obligation. Start now and the loop work and the install still fit before Thanksgiving, where the schedule allows.
I travel most of Oklahoma for geothermal, not just my seven counties. Book a free estimate and I will come look at the real house.