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Geothermal Tax Credit (February 2018)
Exciting News: Under the Continuing Resolution spending bill recently approved by Congress, they reinstated Geothermal Heat Pump (GHP) tax credits which are retroactive to January 1, 2017 and extend to December 31, 2021.
Under Section 48, they matched the geothermal credit to the solar credit phase-out
- 30% tax credit is retroactive to January 1, 2017 on geothermal heat pump installations.
- 30% tax credit on geothermal heat pump installations with construction beginning before December 31, 2019.
- 26% tax credit on geothermal heat pump installations with construction beginning before December 31, 2020.
- 22% tax credit on geothermal heat pump installations with construction beginning before December 31, 2021.
If you have further questions, please feel free to contact Scott Bard, 419.636.1194, extension 313 or scott@bardhvac.com.
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