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

You know that smooth-functioning, low-maintenance, wonderfully energy-efficient geothermal heating and cooling system you’ve been eying but couldn’t afford? Well, despair not! Because, as of February 2018, the federal government’s 30% geothermal tax credit is reinstated! And what was once a financial impossibility may now be well within reach, be it for a new home you’re building in Atlanta or for the enhancement of your current home. You’ll need to act quickly, though, because the federal tax credit amount has been set up to shrink from year to year through 2021.

Here are the important facts:

  • A full 30% of the final cost of your geothermal system is covered by this credit through 2019. Beginning in 2020, then, just 26% of the total cost is covered. And in 2021, just 22%.
  • The federal geothermal tax credit can be applied retroactively to installations that are “placed in service” as of January 1, 2017, or thereafter. A geothermal heating and cooling installation is typically figured to be “placed in service” when it’s completely installed and ready for use. That said, your system is part of a new or newly renovated home, it’s deemed to be “placed in service” at the time you take up residence.
  • What’s eligible for the tax credit is geothermal equipment that, a) makes use of solar energy cached in the earth for heating and cooling and, b) fulfills all ENERGY STAR requirements at the time of installation.
  • Covered expenditures encompass 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? Your Atlanta geothermal pros at EcoMech will be more than happy to answer any questions you have about this thrilling new opportunity to put geothermal heating and cooling to work for you – affordably!

Back To News