Considering Geothermal Installation? Tax Credits Can Sweeten the Deal
The installation of a geothermal system is a major decision for homeowners and can be costly. However, there are multiple benefits that could offset the cost. A geothermal system can be used to replace both traditional heating systems as well as air conditioners, thus minimizing your carbon footprint by half. The government also offers many incentives for homeowners willing to take this step.
In 2009 geothermal tax credits were issued by the government to return 30 percent of the cost of installing a geothermal system, or ground source heat pump, to homeowners. Your state may also offer additional tax benefits for geothermal installation. There are a few things to keep in mind if you are interested in receiving these benefits. How to receive geothermal tax credits:
- The ground or ground water must be used to heat or cool the residence.
- The geothermal system must meet the Energy Star program’s requirements as they are listed at time of installation. Your qualified installer will be able to tell you the list of your state’s rules on this.
- Tax benefits for Qualified Geothermal Heat Pump Properties are extended through the year 2016. The installation of a geothermal system is a big step, but the long-term benefits make it a worthwhile option.
For more information or answers to your questions, the professionals at Sobieski Services would be happy to help and provide any assistance you may need. Our goal is to help educate our customers in Delaware, Pennsylvania, Maryland and New Jersey about energy and home comfort issues (specific to HVAC & plumbing systems).
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