Geothermal Tax Benefits and Credits
Based on the Energy Improvement and Extensions act of 2008 (H.R. 1424), a 30% one time tax credit is offered to the home owners who install a Geothermal Residential group loop or group water geothermal heat pump. Also, a commercial credit of 10% of the total investment is offered for the Geothermal System Installation.
In order to qualify for the credits, the system must meet all the Energy Star requirements and be installed after December 31, 2007 and not after December 31, 2016. To receive the tax credits, homeowners can complete the Renewable Energy Credit subsection of their tax return form.
For additional information regarding this great opportunity, you can reference the Renewable Energy Tax Resource Website
Learn More about the Energy Star Qualifying Products