Dream Finders Homes and Ward Communities Partner with Dandelion Energy and Upstream Lease to Adopt Geothermal in New Maryland Communities

The partnerships have been awarded $1.3 million from the Maryland Energy Administration grant to support first-of-its-kind geothermal leasing structure

ARLINGTON, Va., July 7, 2026 /PRNewswire/ -- Dandelion Energy, the nation's leading provider of residential geothermal heating and cooling solutions, today announced two new homebuilder partnerships, totaling 129 homes, with Dream Finders Homes and Ward Communities. In partnership with Upstream, these projects have been awarded $1.3 million in funding from the Maryland Energy Administration through the Maryland Ground Source Heat Pump Advantage Pilot Program.

"We thank the Maryland Energy Administration for supporting geothermal heating and cooling as a win-win solution for affordability, electric grid reliability, and decarbonization," said Dan Yates, CEO of Dandelion Energy. "By building geothermal into entire communities from the start, we are providing builders a competitive edge, homebuyers stable and low energy bills, and the electric grid with a highly resilient, predictable load profile that stabilizes the network for everyone. Dandelion is excited to start drilling these new systems."

"Congratulations to Upstream, Dandelion, Ward, and Dream Finders on being selected for this funding," said Maryland Energy Administration Director Kelly Speakes-Backman. "We are pleased to support these geothermal projects that are going to bring meaningful savings to Maryland homeowners and ratepayers by lowering energy costs and reducing demand on the grid."

This partnership represents some of the first community-wide deployments of geothermal through Dandelion and Upstream's first-of-its-kind leasing program. The grant funding will be leveraged to unlock a 40% federal investment tax credit, allowing builders to integrate geothermal systems into their communities at the same or lower cost than traditional HVAC systems. Upstream will serve as a third-party owner of the systems, monetize the tax credit, and pass the financial benefits on to the project.

"Partnering with Dandelion Energy, Ward, and Dream Finders represents a massive step forward for community-scale geothermal energy in Maryland," said Daniel Sadik, CCO of Upstream. "Through Upstream, we are leveraging the commercial Investment Tax Credit to eliminate the traditional upfront cost barriers of geothermal installation. It is fantastic to see builders embracing innovative third-party leasing structures to make high-efficiency, fossil-fuel-free developments an immediate reality for Maryland homebuyers."

Dandelion Energy will install high-efficiency geothermal heating and cooling across 129 homes in two new communities. Ward and Dream Finders are delivering their homebuyers a premium system that uses the stable underground temperature to deliver the highest efficiency HVAC option available. Homeowners will have predictable and low energy bills, comfortable homes, quiet neighborhoods with no outdoor equipment, healthier and safer communities. Combined, the two projects will deliver annual energy bill savings between 30 and 40% for homeowners and last two times as long as air-source heat pumps. The two communities will reduce peak demand on Maryland's grid by 20% in the summer and 65% in the winter compared to air-source heat pumps.

"Our goal is to give homeowners a better-performing home, not just a new home," said Joe Lucado, VP of Construction Operations at Ward Communities. "By integrating geothermal technology into these communities, we're delivering lower utility costs, greater comfort, and long-term value without increasing the purchase price of the home."

"We are always looking for ways to deliver better value, sustainability, and comfort to our buyers," said Joe Adler, President, Capital Division, Dream Finders Homes. "Partnering with Dandelion and Upstream allows us to offer cutting-edge geothermal technology without increasing costs and dramatically lowering buyers' monthly expenses."

About Dandelion Energy

Dandelion Energy is a leading provider of residential geothermal heating and cooling solutions with a mission to make geothermal energy accessible and affordable for all homeowners. Since 2017, Dandelion has installed thousands of residential geothermal heat pumps and over 1 million linear feet of ground loops throughout the United States. The nation's leading homebuilders partner with Dandelion to bring the benefits of geothermal to their home buyers. For more information, please visit www.dandelionenergy.com.

About Upstream

Upstream is a leading provider of sustainable energy solutions, specializing in the leasing of high-efficiency Ground Source Heat Pump (GSHP) systems. Their mission is to make the most advanced, clean heating and cooling technology accessible to homeowners without the barrier of high upfront costs. For more information, please visit www.upstreamlease.com.

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SOURCE Dandelion Energy