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.
Geothermal systems utilize the ground’s nearly constant temperature to efficiently deliver heating, cooling, and hot water to the buildings they serve. To accomplish this, geothermal systems tap into boreholes in order to extract the heat or coolness within the earth. We are experts at creating these boreholes thanks to our combined decades of experience in the practice along with our geothermal drill rig, a large truck equipped with a specialized gearbox and long cutting shafts.
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. Our geothermal services extend beyond the requisite hole boring — we additionally offer the following:
- Horizontal systems: In this more common type of geothermal system, the boreholes are created over a wide area of ground and set between six to ten feet deep.
- Vertical systems: These systems’ boreholes extend to depths of up to 400 feet, or longer if the system demands it. As they mostly run up to down, they are ideal where there is little surface area for the project.
- Excavation and fusion of piping: We are able and equipped to create the trenches in which we will lay your geothermal pipe system, as well as to join pipes according to the best fusion technique for any given situation.
- Flushing and purging: Flushing and purging a geothermal loop system is a key step in its installation. When we provide this service we improve circuit flow, protect the system from freezing, and prevent environmental contamination of the aquifers.
- Propylene glycol installation: Propylene glycol is the crucial heat transfer fluid that your geothermal system revolves around. We use trusted brands of the specialized chemical and install it carefully so as to prevent future issues with its circulation.