Greensburg Energy-Savers Celebrate:
30% Federal Geothermal Tax Credit Reinstated!

You know that clean-functioning, low-maintenance, wonderfully energy-efficient geothermal heating and cooling system you’ve been wanting but couldn’t afford? Well, check again! Because, as of February 2018, the federal government’s 30% geothermal tax credit is reinstated! And what was once unattainable may now be well within reach, whether for a new home you’re building in Greensburg or for the updating of your present home. You’ll want to act swiftly, though, because the federal tax credit amount is scheduled to shrink each year through 2021.

Here are the principle facts:

  • A full 30% of the ultimate cost of your geothermal system is covered by this credit through 2019. In 2020, then, just 26% of the ultimate 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 beyond. A geothermal heating and cooling installation is usually regarded as having been “placed in service” when it’s completely installed and ready for use. That said, your system is part of a just built or just renovated home, it’s considered to be “placed in service” at the time you start living in the home.
  • What’s eligible for the tax credit is geothermal equipment that, a) uses solar energy stored in the ground for heating and cooling and, b) meets all ENERGY STAR requirements at the time of installation.
  • Covered expenditures include labor for onsite preparation, assembly, or original system installation and for the piping or wiring that tethers your geothermal system to your home.
  • There is no limit to the credit amount.

Want more facts? WaterFurnace® has gathered them for you in this nifty data sheet, Understanding the Federal Tax Incentives for Geothermal Heat Pumps. And, of course, your Greensburg geothermal pros at Wallpe Heating & Cooling will be glad to answer any questions you have about this wonderful new opportunity to put geothermal heating and cooling to work for you – affordably!