Geothermal Tax Credits Available NOW
Get your share of the stimulus package through installation of a geothermal heating and air-conditioning system. The federal government is offering remarkable tax credits toward your installation.
Please see the details below:
Residential Tax incentive
30% of total GHP system cost
No limit to tax credit for 2009 to 2016
Can be used to offset AMT tax
Can be combined with solar and wind tax credits
Can be used in more than one year
Eligibility:
Home must be located in the U.S.
Includes houses, apartments, condos, mobile homes
Does not have to be your main home
GHP must meet Energy Star requirements
Installed between 1/1/2008 and 12/31/2016
Commercial Tax Incentive
10% of total GHP system cost
No limit to total tax credit
Can be used to offset AMT tax
Can be combined with solar and wind tax credits
Can be used in more than one year
10% grant available in lieu of tax credit
Accelerated Depreciation:
5 year MACR depreciation for entire GHP system
Eligible for 50% first-year bonus depreciation for 2008 - 2010
Eligibility:
Building located in U.S.
Original use begins with taxpayer
Installed between 10/3/2008 and 12/31/2016
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