Energy Catalyst Technologies has launched a geothermal Energy-as-a-Service programme for US homeowners as a solution to rising fuel oil prices.
Under the initiative, homeowners in New York State can replace oil furnaces and boilers with a geothermal heat pump for a low fixed monthly payment.
Energy Catalyst designs, manufactures, and installs geothermal heat pump systems for residential and commercial buildings across the north-eastern US State.
In a statement, the company said the programme offered a complete geothermal heating and cooling solution at a fixed low rate.
Matthew Desmarais, Founder of Energy Catalyst, said it allows households facing high oil prices to implement a solution with no reliance on fossil fuels, long term savings on energy costs, and a superior home environment experience.
“We talk with oil customers everyday who are expecting to pay upwards of $7,500 in heating costs this winter,” said Desmarais.
“For half that amount, you could have a major clean energy upgrade to your home heating and cooling system that comes with a low, stable bill for the next 15 years.”
In Spring 2026, New York State retail heating oil averaged around US$3.80 a gallon, however, NYSERDA data now reports over US$6.14 a gallon.With over 60% increase in costs, and prices continuing to rise, homeowners are looking for solutions, Desmarais added.
New York State has approximately 1.4 million households heating with oil, with most concentrated in the upstate area.
A typical New York oil-heated home burns about 900 gallons a year — at current prices, that is roughly US$5,040 in fuel costs alone, before service calls or further price hikes.
Under the new Energy Catalyst Geothermal EaaS offering, the homeowner pays a flat monthly amount for heating and cooling services over a 15-year term.
Energy Catalyst owns, installs, monitors, maintains, and repairs the system.
A recent representative residential agreement covered a 66,000 BTU/hr Double Hybrid Heat Pump with a 500-ft Twister Geothermal Ground Loop and a 60-gallon hot water tank at US$275 a month, fixed for the full term.
Homeowners also have the option to purchase the system outright at fair market value at the end of year six or at the end of the term.
Desmarais added that, “with the Geothermal Service Agreement, if the system doesn’t work, the customer doesn’t have to pay — we are that confident in our products.”