Burlington Energy-Savers Take Note:
30% Federal Geothermal Tax Credit Reinstated!

You know that clean-functioning, low-maintenance, wonderfully energy-efficient geothermal heating and cooling system you’ve been dreaming about but couldn’t afford? Well, check again! Because, as of February 2018, the federal government’s 30% geothermal tax credit is back again! And what was once unattainable may now be well within reach, be it for a new home you’re building in Burlington or for the enhancement of your present home. You’ll have to act fast, 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 later. A geothermal heating and cooling installation is typically figured to be “placed in service” when it’s totally installed and ready for use. If, however, your system is part of a just built or just renovated home, it’s deemed to be “placed in service” when you take up residence.
  • What’s eligible for the tax credit is geothermal equipment that, a) employs solar energy cached in the earth for heating and cooling and, b) meets all ENERGY STAR requirements at the time of installation.
  • Covered expenditures include labor for onsite preparation, assembly, or original system installation and for the piping or wiring that tethers your geothermal system to your home.
  • The credit amount is not limited.

Need more facts? Your Burlington geothermal pros at Crabbe Service 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!

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