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

You know that smooth-operating, low-maintenance, remarkably energy-efficient geothermal heating and cooling system you’ve been wishing for but couldn’t afford? Well, look again! Because, as of February 2018, the federal government’s 30% geothermal tax credit is reinstated! And what was previously a financial impossibility may now be well within reach, whether for a new home you’re building in Atlanta or for the enhancement of your current home. You’ll need to act right away, though, because the federal tax credit amount has been set up to drop each year through 2021.

Here are the principle facts:

  • A full 30% of the total cost of your geothermal system is covered by this credit through 2019. 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 beyond. A geothermal heating and cooling installation is typically regarded as having been “placed in service” when it’s completely installed and ready for use. If, however, your system is part of a newly built or newly renovated home, it’s considered to be “placed in service” at the time you start living in the home.
  • What’s eligible for the tax credit is geothermal equipment that, a) employs solar energy cached underground for heating and cooling and, b) fulfills 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.
  • The credit amount is unlimited.

Need more facts? WaterFurnace® has gathered them for you in this convenient circular, Understanding the Federal Tax Incentives for Geothermal Heat Pumps. And, of course, your Atlanta geothermal pros at EcoMech will be more than happy to answer any questions you have about this wonderful new opportunity to put geothermal heating and cooling to work for you – affordably!