Save with Geothermal
The tax credit for geothermal heat pump installations has been extended through 2034. Geothermal equipment using stored solar energy from the ground and meeting ENERGY STAR requirements is eligible for the credit, which has no limit and can be claimed multiple times. This credit can be combined with other energy efficiency credits. A 30% federal tax credit for residential ground source heat pump installations is available through 2032, reducing to 26% in 2033 and 22% in 2034, so act quickly to maximize your savings.
Nonbusiness Energy Property Credit
The Inflation Reduction Act of 2022 offers tax credits for installing ENERGY STAR® certified heating and cooling productsStarting Jan 1, 2023, homeowners can get a 30% tax credit on installation costs for high-efficiency products, up to $600 for qualified air conditioners and furnaces, and up to $2,000 for qualified heat pumps.