Did you know that switching from a conventional furnace and AC to a geothermal heat pump saves you money in energy costs? While the price tag on a geothermal system can be daunting compared to its less sophisticated counterparts, there’s relief in federal tax credits for residential and commercial installations of geothermal heat pumps! As of February 2018, geothermal tax credits were reinstated through 2021 and are retroactive to January 1st, 2017.
The tax credit application for each upcoming year can be seen below:
Not only does this cut into the overall cost of your geothermal system purchase, but the installation as well. Labor onsite, installation cost and piping are all to be included in the final total submitted with your taxes.
To learn more about the next steps toward a cost-effective, green solution to your home’s HVAC needs be sure to call our office today!
Credit for picture to Bryant and WaterFurnace Int’l