There is good news for homeowners living in Idaho Falls. The American Recovery and Reinvestment Bill of 2009 has provided a larger tax credit above and beyond the original legislation. This is suitable for anyone who has a geothermal heating and cooling system installed during the time between January 1, 2009, and December 31, 2016.
As a part of both bills, you can deduct a one-time tax credit of 30% of the investment cost. Yet, the old legislation had a cap of $2,000. The major benefit of the newer bill is that there is no cap anymore. You get the entire 30% of the cost of geothermal system installation. And that’s only touching on the benefits for residential consumers. Commercial entities will also gain from this bill by being eligible for a credit of 10%.
The only requirement that you need to meet in order to qualify for the tax credit is that your geothermal system must meet Energy Star requirements. You can be certain that all of our WaterFurnace systems reach these standards easily.
Today, more than half a million homes across the United States benefit from geothermal systems. The growing popularity of these systems is fueled by soaring energy prices and the number of homeowners looking to reduce their carbon footprints. To learn more about the tax credit and the American Recovery and Reinvestment Bill or 2009, visit http://www.dsireusa.org or contact your local tax professional. For more information on any of our fine products, give us a call or send us an email today.