Federal Geothermal Tax Credits Expiring This Yearby HVAC Distributors March 21, 2016
The federal 30% tax credit on purchase and installation of geothermal equipment continues through December 31, 2016.
This tax credit can be combined with geothermal tax credits offered by EAP in the Philadelphia area.
- Installation in existing home (second homes qualify) or new construction
- Installed equipment must meet ENERGY STAR requirements
Complete details of the tax credit program are available here.
The Big Question – Will the Credits Be Extended Beyond 2016?
The Geothermal Exchange Organization (GEO) is working to get the tax credits extended. The News interviewed Doug Dougherty, president and CEO of GEO, who provided some perspective of what may happen to the US geothermal industry if the credits are not renewed.