Jasper Energy-Savers Celebrate:
30% Federal Geothermal Tax Credit Reinstated!

You know that clean-running, low-maintenance, highly 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 now back in effect! And what was once unaffordable may now be well within reach, be it for a new home you’re building in Jasper or for the upgrading of your current home. You’ll want to act fast, though, because the federal tax credit amount is scheduled to decrease each year through 2021.

Here are the important facts:

  • A full 30% of the ultimate cost of your geothermal system is covered by this credit through 2019. Starting in 2020, then, only 26% of the total 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 beyond. “Placed in service” indicates that the installation of your geothermal heating and cooling system is complete and the equipment is ready for use. If, however, your system is part of a just built or just renovated home, it’s deemed to be “placed in service” when you take up residence.
  • What’s eligible for the tax credit is geothermal equipment that, a) makes use of solar energy stored underground for heating and cooling and, b) meets all ENERGY STAR requirements at the time of installation.
  • Covered expenditures take into account labor for onsite preparation, assembly, or original system installation and for the piping or wiring that links your geothermal system to your home.
  • The credit amount is unlimited.

Want more facts? WaterFurnace® has collected them for you in this convenient data sheet, Understanding the Federal Tax Incentives for Geothermal Heat Pumps. And, of course, your Jasper geothermal pros at Hulsman Refrigeration, Inc. 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!