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Geothermal Tax Credit Reinstated

We’ve got good news for those considering a geothermal heat pump – the 30% federal tax credit has been reinstated until December 31, 2019.  For those that purchased a system in 2017 you may be eligible for a tax credit as the reinstatement is retroactive to January 1, 2017.

The tax credit amount will slightly decrease in 2020 and 2021 as a phasing out process.

  • In 2020, the tax credit will reduce to 26%
  • In 2021, the tax credit will reduce to 22%
  • The final tax credit will expire 12/31/2021

Please consult your tax preparer to see if you are eligible to receive a tax credit.

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