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

You know that smooth-functioning, low-maintenance, remarkably energy-efficient geothermal heating and cooling system you’ve been wanting but couldn’t afford? Well, despair not! Because, as of February 2018, the federal government’s 30% geothermal tax credit is now back in effect! And what was once unattainable may now be well within your grasp, be it for a new home you’re building in Omaha or for the updating of your existing home. You’ll have to act fast, though, because the federal tax credit amount has been set up to decrease 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. In 2020, then, just 26% of the total 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 thereafter. “Placed in service” indicates that the installation of your geothermal heating and cooling system is completely finished and the equipment is ready for use. If, however, your system is part of a new or newly renovated home, it’s deemed to be “placed in service” when you begin living in the home.
  • What’s eligible for the tax credit is geothermal equipment that, a) employs solar energy accumulated in the ground for heating and cooling and, b) meets 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 hitches your geothermal system to your home.
  • There are no set limits to the credit amount.

Want more details? WaterFurnace® has assembled them for you in this useful circular, Understanding the Federal Tax Incentives for Geothermal Heat Pumps. And, of course, your Omaha geothermal pros at Complete Comfort 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!