In December 2020, the Federal tax credit for geothermal installations was extended through 2023. Geothermal heat pumps that use the stored solar energy from the ground for heating and cooling and that meet ENERGY STAR requirements at the time of installation are eligible for the tax credit. The credit has no limit and there’s no limitation on the number of times the credit can be claimed.
The 26% federal tax credit for residential ground source heat pump installations has been extended through December 31, 2022. The incentive will be lowered to 22% for systems that are installed in 2023, so act quickly to save the most on your installation.
All GeoSmart heatpumps are Energy Star rated.
Database of State incentives for Renewables & Efficiency (DSIRE) is a comprehensive source of information on state, local, utility, and federal incentives and policies that promote renewable energy and energy efficiency. Established in 1995 and funded by the U.S. Department of Energy, DSIRE is an ongoing project of the N.C. Solar Center and the Interstate Renewable Energy Council.