Columbus Energy-Savers Take Note:
30% Federal Geothermal Tax Credit Reinstated!

You know that clean-functioning, low-maintenance, incredibly energy-efficient geothermal heating and cooling system you’ve been longing for but couldn’t afford? Well, take heart! Because, as of February 2018, the federal government’s 30% geothermal tax credit is back again! And what was once unattainable may now be well within your means, be it for a new home you’re building in Columbus or for the updating of your present home. You’ll want to act soon, though, because the federal tax credit amount is slated to drop from year to year through 2021.

Here are the salient facts:

  • A full 30% of the total cost of your geothermal system is covered by this credit through 2019. Beginning in 2020, then, just 26% of the ultimate cost is covered. And in 2021, only 22%.
  • The federal geothermal tax credit can be applied retroactively to installations that are “placed in service” as of January 1, 2017, or thereafter. “Placed in service” means that the installation of your geothermal heating and cooling system is completely done and the equipment is ready for use. That said, your system is part of a just built or just renovated home, it’s considered “placed in service” at the time you begin living in the home.
  • What’s eligible for the tax credit is geothermal equipment that, a) makes use of solar energy cached underground for heating and cooling and, b) meets all ENERGY STAR requirements at the time of installation.
  • Covered expenditures take into consideration labor for onsite preparation, assembly, or original system installation and for the piping or wiring that hitches your geothermal system to your home.
  • There is no limit to the credit amount.

Like more details? WaterFurnace® has assembled them for you in this useful leaflet, Understanding the Federal Tax Incentives for Geothermal Heat Pumps. And, of course, your Columbus geothermal pros at Patriot Air Comfort Systems will be happy to answer any questions you have about this generous new opportunity to put geothermal heating and cooling to work for you – affordably!