Dallas Energy-Savers Rejoice:
30% Federal Geothermal Tax Credit Reinstated!

You know that clean-functioning, low-maintenance, highly energy-efficient geothermal heating and cooling system you’ve been dreaming about but couldn’t afford? Well, despair not! Because, as of February 2018, the federal government’s 30% geothermal tax credit is reinstated! And what was heretofore a financial impossibility may now be well within your grasp, whether for a new home you’re building in Dallas or for the updating of your present home. You’ll need to act soon, though, because the federal tax credit amount has been set up to drop each year through 2021.

Here are the principle facts:

  • A full 30% of the final cost of your geothermal system is covered by this credit through 2019. Beginning in 2020, then, just 26% of the ultimate 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 later. A geothermal heating and cooling installation is normally considered to be “placed in service” when it’s totally installed and ready for use. If, however, your system is part of a recently built or renovated home, it’s regarded as “placed in service” when you take up residence.
  • What’s eligible for the tax credit is geothermal equipment that, a) makes use of solar energy accumulated in the earth for heating and cooling and, b) meets all ENERGY STAR requirements at the time of installation.
  • Covered expenditures encompass labor for onsite preparation, assembly, or original system installation and for the piping or wiring that secures your geothermal system to your home.
  • There are no set limits to the credit amount.

Need more details? Your Dallas geothermal pros at Geo-Thermal Distribution Co., LLC will be more than happy to answer any questions you have about this wonderful new opportunity to put geothermal heating and cooling to work for you – affordably!