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

You know that smooth-running, low-maintenance, remarkably energy-efficient geothermal heating and cooling system you’ve been eying but couldn’t afford? Well, take heart! Because, as of February 2018, the federal government’s 30% geothermal tax credit is back again! And what was once a financial impossibility may now be well within your grasp, be it for a new home you’re building in Defiance or for the enhancement of your existing home. You’ll want to act swiftly, though, because the federal tax credit amount has been set up to shrink each year through 2021.

Here are the salient facts:

  • A full 30% of the ultimate cost of your geothermal system is covered by this credit through 2019. Starting 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 later. “Placed in service” indicates that the installation of your geothermal heating and cooling system is completely done and the equipment is ready for use. But if your system is part of a just built or just renovated home, it’s regarded as “placed in service” the moment you start living in the home.
  • What’s eligible for the tax credit is geothermal equipment that, a) employs solar energy accumulated underground for heating and cooling and, b) satisfies 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 links your geothermal system to your home.
  • The credit amount is unlimited.

Need more facts? Your Defiance geothermal pros at Schlatters Plumbing Heating & AC will be happy to answer any questions you have about this exciting new opportunity to put geothermal heating and cooling to work for you – affordably!

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