Geothermal Tax Credits Extended! Back in Action! APPROVED, APPROVED, APPROVED…
What a great day and accomplishment for the Industry of Geothermal Renewable Energy.
The geothermal residential energy tax credit. Home solar and small wind got extended in the last go round of the tax credits, but geothermal home energy systems were left out. Now that’s fixed.
For geothermal systems placed in service from Jan. 1, 2017 through 2020, the credit is 26%, and then drops to 22% through 2022, of the cost of the system. An enormous push forward for the geothermal renewable industry and and we are looking forward to amazing years to come with renewable energy!
“It is absolutely amazing for our customers! Some of our home owners will look at figures of getting back over 50K+ on their systems. EcoMech has persevered through the tax credits going away with hundreds of installations for homeowners that still wanted to go GEO. Now we get ready for the rush! Especially the “tire-kickers” that weren’t sure if they could afford it.We know it is a pricey investment, but chances are with this news- it’s gonna happen.”
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