MN SF4686

Establishes a geothermal heat exchange system rebate program in the state department to provide financial assistance to eligible applicants who purchase and install geothermal heat pump systems in Minnesota buildings.

Requires applicants to have received or applied for a federal rebate under the Inflation Reduction Act of 2022, own the building, complete an energy audit within 18 months by a certified building analyst, and use a trained contractor for installation.

Sets rebate limits at $6,000 for single-family homes or five percent of system costs (not to exceed $50,000) for multifamily and commercial buildings, reduced by any federal rebate amount received.

Requires prevailing wage compliance for projects with total system capacity over 284 tons and prioritizes applications from properties without natural gas service, in environmental justice areas, and those using registered apprenticeships.

Establishes a dedicated geothermal heat exchange system rebate account in the special revenue fund and appropriates unspecified general fund money in fiscal year 2025, with funds remaining available through December 31, 2032.