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federaltaxcredits

30% Tax Credit on Geothermal Heat Pumps

Now through December 31, 2016 a taxpayer may claim a credit of 30% of qualified expenditures for a Geothermal Heat Pump System. Certain restrictions apply, contact us for details.

  • All ENERGY STAR qualified geothermal heat pumps are eligible for the tax credit
  • Can be combined with other utility rebates
  • Maximum of 30% of the cost (including installation/labor costs), with no upper limit
  • Must be installed in a home you own and use as a residence – no rentals, but second homes qualify
  • Must save receipt and manufacturer’s certification statement.
  • Submit Form 5695 with your taxes.