Tag: Tax Credits

Geothermal Wins with New IRA Tax Credits

On August 16, 2022, Congress passed legislation for the revised Inflation Reduction Act that included significant increases in tax credits and incentives for the installation of geothermal systems. Tax credit opportunities for residential geothermal systems were increased from 26% to... Read More

ClimateMaster Manufacturer’s Certification for Geothermal Tax Credit

If you sold ClimateMaster for a residential installation (including installations done in 2017), your homeowner may look to claim the re-instated geothermal tax credit. As part of the claim process, homeowners will need ClimateMaster's Manufacturer's Certification of Geothermal Heat Pump Property... Read More

Geothermal Tax Credit Reinstated – Retroactive to 2017

As part of the tax bill passed on Friday, February 9, Congress reinstated the federal geothermal tax credits for residential and commercial use. Residential Geothermal Tax Credit The residential credit (detailed below) applies to residential systems installed from January 1,... Read More

Federal Tax Credits on Qualifying Residential Indoor Comfort Systems

The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 has been extended and revised to provide federal tax credits on qualifying, high-efficiency residential HVAC products and systems through December 31, 2016. Many Amana systems qualify for these rebates. Goodman has provided... Read More

Federal Tax Deduction on Commercial/Industrial Space Heating

Cambridge HTHV Space Heaters, available through HVAC Commercial Solutions, are eligible for EPAct Tax Deductions of up to $0.60/square foot. Tax benefits are available for both new construction and retrofit applications. For full details, click here. What is HTHV? High... Read More

Federal Geothermal Tax Credits Expiring This Year

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. Requires: Installation in existing home (second... Read More