Take Advantage of the Tax Credit for a New Geothermal System

There is superb news for homeowners living in Central Virginia. The American Recovery and Reinvestment Bill of 2009 has provided an increased tax credit over the old legislation. This is applicable to anyone who has a geothermal heating and cooling system installed anywhere between January 1, 2009 and December 31, 2016.

Under both bills, you can take a one-time tax credit of 30% of the investment cost. Although, the old legislation had a ceiling of $2,000. The major benefit of the newer bill is that there is no cap anymore. You get the full 30% of the cost of geothermal system installation. And that’s just for residential consumers. Commercial entities will also benefit 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 rest assured that all of our WaterFurnace systems meet 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.