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 Palmetto Air Solutions, LLC
Whether you need standard maintenance, equipment repair, or a complete comfort system - Palmetto Air Solutions, LLC has the education and skills you need. We hire experienced HVAC technicians that you can trust to be in your homes. Our technicians are all background tested, and we pride ourselves on the trust our customers have placed in us for their heating and air needs. Our number one goal is to prove that we deserve your service! Let us install a solution that uses the clean, renewable energy in your backyard to give you savings up to 70% on heating, cooling, and hot water.
