GEOTHERMAL TAX CREDIT IS BACK!
For geothermal heat pumps and other renewable energy technologies, the legislation passed by Congress on Feb 9:
- Reinstates the residential income tax credit at 30% of installed cost, dropping to 26% in 2020, then to 22% for 2021, before ending on Dec 31, 2021.
- Extends the 10% commercial investment tax credit until Jan 1, 2022, and changes the language for placed in service to “property the construction of which begins before Jan 1, 2022.”
- Makes both residential and commercial tax credits retroactive to Jan 1, 2017.
Be sure to ask your local electric company about rebates offered for installing a geothermal system.
We work hand in hand with you and your HVAC contractor to give you the best service possible. With our vast knowledge of drilling practices and procedures we can provide all of your geothermal heating and cooling needs.