The 30% US tax credit has been reinstated for 2018 and is retroactive for any products purchased in 2017! The American Recovery and Reinvestment Act adopted in October 2008 allows for a 30% tax credit for costs associated with ENERGY STAR qualified residential geothermal heat pumps, as noted in section 25D of the Internal Revenue Code. The 30% credit applies to geothermal equipment placed in service until 2020. Tax credits will still be available at a reduced rate until 2022.
The information here is for general use only. The information is provided with the understanding that TETCO is not providing tax, accounting, legal or other professional advice. This material should not be used as a substitute for expert advice from a tax, accounting, or legal professional.
For more information on incentives available to you, please contact your local TETCO dealer or your local tax professional. You can also visit Database of State Incentives for Renewables and Efficiency at dsireusa. DSIRE is a comprehensive source of information on state, local, utility and federal incentives and policies that promote renewable energy and energy efficiency.