Hart Energy-Savers Take Note:
30% Federal Geothermal Tax Credit Reinstated!

You know that clean-functioning, low-maintenance, amazingly energy-efficient geothermal heating and cooling system you’ve been dreaming about but couldn’t afford? Well, check again! Because, as of February 2018, the federal government’s 30% geothermal tax credit is back again! And what was previously a financial impossibility may now be well within your means, be it for a new home you’re building in Hart or for the updating of your existing home. You’ll want to act right away, though, because the federal tax credit amount has been set up to drop each year through 2021.

Here are the principle facts:

  • A full 30% of the total cost of your geothermal system is covered by this credit through 2019. Beginning in 2020, then, only 26% of the total cost is covered. And in 2021, just 22%.
  • The federal geothermal tax credit can be applied retroactively to installations that are “placed in service” as of January 1, 2017, or later. A geothermal heating and cooling installation is typically figured to be “placed in service” when it’s fully installed and ready for use. But if your system is part of a new or newly renovated home, it’s considered “placed in service” at the time you start living in the home.
  • What’s eligible for the tax credit is geothermal equipment that, a) employs solar energy accumulated in the ground for heating and cooling and, b) fulfills all ENERGY STAR requirements at the time of installation.
  • Covered expenditures encompass labor for onsite preparation, assembly, or original system installation and for the piping or wiring that links your geothermal system to your home.
  • The credit amount is not limited.

Want more details? WaterFurnace® has assembled them for you in this convenient leaflet, Understanding the Federal Tax Incentives for Geothermal Heat Pumps. And, of course, your Hart geothermal pros at Adams Heating & Cooling II will be happy to answer any questions you have about this wonderful new opportunity to put geothermal heating and cooling to work for you – affordably!