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Geothermal Tax Credits

 

Great news for Central, Northern & Upstate New York State homebuilders and commercial building owners! You may qualify for a geothermal tax credit!

The Energy Improvement and Extension Act of 2008 (H.R. 1424) offers...

  • a one-time tax credit of 30% of the total investment for homeowners who install residential ground loop or ground water geothermal heat pumps
  • a one-time tax credit of 10% of the total investment for building owners who install a commercial geothermal system

Qualifying systems must meet or exceed EnergyStar requirements and be installed after December 31, 2007.

Central, Northern & Upstate New York State geothermal system owners can file for the credit by completing the Renewable Energy Credits subsection on their federal tax return forms.

Geothermal tax credits are available through December 2016. Please consult your local Central, Northern & Upstate New York State tax professional for advice on taking advantage of them, as we at 4 Green Power Systems cannot legally offer a recommendation or endorsement of any financial strategy.

To learn more about additional tax incentives that may be available to you in NY, visit www.dsireusa.org.

And to learn more about why you should consider installing a geothermal heating and cooling system in the first place, contact 4 Green Power Systems.

315-929-0110
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