 |
Financial IncentivesThe facts about a 30% Federal Residential Renewable Energy Tax Credit for Geothermal Heat Pumps.We Can HelpECS provides design, installation and service management for geothermal heating and cooling systems. The ECS team of certified geothermal designers and installers will work with you and your architect to provide a customized program to meet your heating, cooling and hot water needs. ECS provides a full, one-year warranty on the entire geothermal installation. An extended warranty can be purchased with our service contract. Your service contract will include a minimum of two annual service calls to inspect, balance and maintain your geothermal equipment. It would be our pleasure to set up a consultation and preliminary energy audit to determine whether your residence is a candidate for the installation of a geothermal system. ECS will provide you with a detailed cost evaluation, including the 30% federal tax credit described above, as well as any additional state and local incentives and simple payback analysis for proposed upgrades. Give us a call today at (800) 789-3530.
Federal Tax Credits
Under the federal Energy Policy Act of 2005, the federal tax credit for residential energy property initially applied only to solar-electric systems, solar water heating systems, and fuel cells. Effective January 1, 2008, The Energy Improvement and Extension Act of 2008 extended the tax credit to small wind-energy systems and geothermal heat pumps. The Energy Improvement and Extension Act of 2008 included an extension of the credit to December 31, 2016. The Energy Improvement and Extension Act of 2008 included the ability to take the credit against the alternative minimum tax. The American Recovery and Investment Act of 2009 removed the maximum credit amount for all eligible technologies (excluding fuel cells) placed in service after 2008. There is currently no maximum credit for geothermal heat pump systems placed in service after 2008. If the installation is in a new home, the "placed in service" date is the date of occupancy by the homeowner. The geothermal heat pump system must be placed in service on or after January 1, 2008 and on or before December 31, 2016. The geothermal heat pump system must meet federal Energy Star program requirements in effect at the time the installation is completed.
State Tax Credits
Massachusetts
Here is the Massachusetts Text
North Carolina
Here is the North Carolina Text |