Geothermal Tax Credits & Incentives
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Tax Credits & Incentives
In August 2022, the tax credit for geothermal heat pump installations was extended through 2034. Geothermal equipment that uses the stored solar energy from the ground for heating and cooling and that meets ENERGY STAR requirements at the time of installation is eligible for the tax credit. The credit has no limit and there's no limitation on the number of times the credit can be claimed.
US Tax Credits Through 2034
The energy tax credit can be combined with solar and wind credits as well as energy efficiency upgrade credits. A 30% federal tax credit for residential ground source heat pump installations has been extended through December 31, 2032. The incentive will be lowered to 26% for systems that are installed in 2033 and 22% in 2034, so act quickly to save the most on your installation.
Check For More Local Incentives
In addition to the federal tax credit, some state, local, and utility incentives may be available in your area for even more savings on installing a geothermal heat pump. Check out the Database of State Incentives for Renewables & Efficiency (DSIRE) website to find policies and incentives in your area.
About First Geothermal Energy
Experience matters!! Perhaps the most important aspect of deciding upon a geothermal system installation is selecting a Geothermal installer. First Geothermal Energy is owned and operated by Mike Roberts. Mike has over twenty five years experience in the HVAC industry. Approximately fifteen Years ago he decided the future was geothermal, he has dedicated his geothermal career to the design and installation of a proper geothermal heat pump system for his customers. This starts with a complete evaluation of the current or future home or building. This includes measurements of the home;level of insulation; window and door sizes and grade; home exposure direction ect. All of this is done to determine the structures heat loss and heat gain. Once this is accurately calculated, a properly sized system, including the tonnage required and the size and design of the loop system is created.
Mike is a factory trained technician in geothermal design and installation, using the latest software and analytical data.
Licenced with the State of Ohio in HVAC and Plumbing Licence # 14124
Certified in refrigerant usage.
Certified in fusion welding techniques for the loop piping
