Lane County Energy-Savers Celebrate:
30% Federal Geothermal Tax Credit Reinstated!

You know that smooth-operating, low-maintenance, wonderfully energy-efficient geothermal heating and cooling system you’ve been wishing for but couldn’t afford? Well, take heart! 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 your means, be it for a new home you’re building in Lane County or for the updating of your current home. You’ll want 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 principle facts:

  • A full 30% of the ultimate cost of your geothermal system is covered by this credit through 2019. 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. “Placed in service” indicates that the installation of your geothermal heating and cooling system is completely done and the equipment is ready for use. If, however, your system is part of a newly built or newly 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) uses solar energy stored underground for heating and cooling and, b) satisfies all ENERGY STAR requirements at the time of installation.
  • Covered expenditures take into account labor for onsite preparation, assembly, or original system installation and for the piping or wiring that secures your geothermal system to your home.
  • The credit amount is not limited.

Need more details? WaterFurnace® has collected them for you in this useful data sheet, Understanding the Federal Tax Incentives for Geothermal Heat Pumps. And, of course, your Lane County geothermal pros at Comfort Flow Heating will be glad to answer any questions you have about this wonderful new opportunity to put geothermal heating and cooling to work for you – affordably!